Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by StockNews.com

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

Manhattan Bridge Capital Stock Performance

NASDAQ:LOAN opened at $5.69 on Wednesday. The company’s 50-day simple moving average is $5.44 and its 200-day simple moving average is $5.34. Manhattan Bridge Capital has a fifty-two week low of $4.60 and a fifty-two week high of $5.90. The stock has a market capitalization of $65.09 million, a P/E ratio of 11.61 and a beta of 0.57.

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

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 8.08%. The ex-dividend date of this dividend is Tuesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio is currently 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Institutional investors have recently added to or reduced their stakes in the business. Soltis Investment Advisors LLC acquired a new position in Manhattan Bridge Capital during the 3rd quarter valued at approximately $14,758,000. International Assets Investment Management LLC grew its holdings in shares of Manhattan Bridge Capital by 441.5% during the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after buying an additional 119,595 shares during the last quarter. Beese Fulmer Investment Management Inc. increased its position in shares of Manhattan Bridge Capital by 53.4% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock valued at $724,000 after acquiring an additional 45,222 shares during the period. Renaissance Technologies LLC increased its position in shares of Manhattan Bridge Capital by 13.3% in the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after acquiring an additional 21,950 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after acquiring an additional 6,117 shares during the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

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. 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.