Manhattan Bridge Capital (NASDAQ:LOAN) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued to investors on Sunday morning. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Trading Up 0.8 %

Shares of LOAN opened at $5.47 on Friday. Manhattan Bridge Capital has a 12 month low of $4.60 and a 12 month high of $5.90. The company has a market capitalization of $62.58 million, a PE ratio of 11.16 and a beta of 0.57. The stock’s 50-day moving average price is $5.42 and its two-hundred day moving average price is $5.30.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The firm had revenue of $2.31 million for the quarter.

Manhattan Bridge Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.46 annualized dividend and a yield of 8.41%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 93.88%.

Institutional Trading of Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. grew its position in Manhattan Bridge Capital by 67.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock worth $82,000 after buying an additional 6,923 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Manhattan Bridge Capital during the first quarter valued at approximately $69,000. Riversedge Advisors LLC purchased a new stake in Manhattan Bridge Capital in the second quarter worth $68,000. Waddell & Associates LLC boosted its holdings in Manhattan Bridge Capital by 3.9% in the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after acquiring an additional 2,861 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Manhattan Bridge Capital by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after purchasing an additional 21,950 shares during the period. 21.84% of the stock is owned by hedge funds and other institutional investors.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.