Manhattan Bridge Capital, Inc. (NASDAQ: READY – Get a rating) was the target of a sharp decline in short-term interest in April. As of April 30, there was short interest totaling 14,700 shares, down 32.6% from the April 15 total of 21,800 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 32,200 shares, the short-term interest rate ratio is currently 0.5 days.
Separately, TheStreet upgraded shares of Manhattan Bridge Capital from a “c+” rating to a “b-” rating in a Wednesday, February 2, report.
Shares of LOAN shares traded down $0.02 on Friday, hitting $5.28. The company’s stock had a trading volume of 13,884 shares, compared to an average volume of 18,493. Manhattan Bridge Capital has a fifty-two week low of $5.25 and a fifty-two week high of 8, $05. The company’s fifty-day moving average price is $5.90 and its 200-day moving average price is $5.84. The stock has a market capitalization of $60.67 million, a price/earnings ratio of 12.28 and a beta of 0.59.
Manhattan Bridge Capital (NASDAQ: READY – Get a rating) last released its quarterly earnings data on Friday, March 11. The credit service provider reported earnings per share (EPS) of $0.09 for the quarter, missing the consensus estimate of $0.10 per ($0.01). Manhattan Bridge Capital had a net margin of 65.94% and a return on equity of 11.50%.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Friday, July 8 will receive a dividend of $0.125. This represents an annualized dividend of $0.50 and a dividend yield of 9.47%. The ex-dividend date is Thursday, July 7. Manhattan Bridge Capital’s payout ratio is currently 116.28%.
Several hedge funds have recently increased or reduced their holdings in LOAN. Royal Bank of Canada increased its position in Manhattan Bridge Capital by 500.0% during the third quarter. Royal Bank of Canada now owns 6,000 shares of the credit service provider worth $41,000 after acquiring an additional 5,000 shares in the last quarter. Citadel Advisors LLC acquired a new position in Manhattan Bridge Capital during Q3 worth $78,000. Susquehanna International Group LLP acquired a new position in Manhattan Bridge Capital during Q4 valued at $75,000. Advisor Group Holdings Inc. increased its position in Manhattan Bridge Capital by 13.3% during the third quarter. Advisor Group Holdings Inc. now owns 16,966 shares of the credit service provider worth $115,000 after acquiring 1,997 additional shares in the last quarter. Finally, Geode Capital Management LLC acquired a new position in Manhattan Bridge Capital during the 3rd quarter at a value of $115,000. 26.27% of the shares are held by institutional investors and hedge funds.
About the Capital of the Manhattan Bridge (Get a rating)
Manhattan Bridge Capital, Inc, a real estate finance company, originates, maintains and manages a portfolio of first mortgage loans in the United States. It offers short-term, secured, non-bank loans to real estate investors to finance their acquisition, renovation, rehabilitation or improvement of properties in the New York metropolitan area, including New Jersey and Connecticut, and in Florida.
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