Manhattan Bridge Capital Inc. (NASDAQ:LOAN) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totalling 6,600 shares, a decrease of 29.8% from the May 15th total of 9,400 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 20,700 shares, the short-interest ratio is currently 0.3 days.
In other news, insider Assaf Ran bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average price of $6.00 per share, with a total value of $30,000.00. Following the purchase, the insider now owns 2,536,000 shares in the company, valued at $15,216,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 27.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Manhattan Bridge Capital by 4.5% in the third quarter. Vanguard Group Inc. now owns 272,519 shares of the credit services provider’s stock worth $1,744,000 after buying an additional 11,625 shares during the last quarter. National Asset Management Inc. lifted its position in Manhattan Bridge Capital by 19.9% in the fourth quarter. National Asset Management Inc. now owns 30,998 shares of the credit services provider’s stock worth $175,000 after buying an additional 5,149 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Manhattan Bridge Capital by 144.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,548 shares of the credit services provider’s stock worth $93,000 after buying an additional 9,780 shares during the last quarter. Creative Planning bought a new stake in Manhattan Bridge Capital in the first quarter worth $49,000. Finally, Granite Investment Partners LLC lifted its position in Manhattan Bridge Capital by 87.8% in the first quarter. Granite Investment Partners LLC now owns 118,882 shares of the credit services provider’s stock worth $755,000 after buying an additional 55,566 shares during the last quarter. Institutional investors own 15.25% of the company’s stock.
Shares of NASDAQ LOAN opened at $6.29 on Friday. The business’s 50-day moving average is $6.22. Manhattan Bridge Capital has a 1-year low of $5.34 and a 1-year high of $7.10. The stock has a market cap of $60.71 million, a P/E ratio of 13.09 and a beta of 0.35.
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.48 annualized dividend and a yield of 7.64%.
Manhattan Bridge Capital Company Profile
Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.
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