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

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

Manhattan Bridge Capital Price Performance

Shares of Manhattan Bridge Capital stock opened at $5.67 on Friday. The stock has a market cap of $64.86 million, a price-to-earnings ratio of 11.57 and a beta of 0.55. Manhattan Bridge Capital has a 1 year low of $4.60 and a 1 year high of $5.90. The firm’s 50-day moving average is $5.49 and its 200 day moving average is $5.39.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The firm had revenue of $2.31 million for 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 disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.115 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.46 annualized dividend and a yield of 8.11%. Manhattan Bridge Capital’s payout ratio is 93.88%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LOAN. B. Riley Wealth Advisors Inc. grew its position 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 purchasing an additional 6,117 shares during the period. Geode Capital Management LLC lifted its holdings in Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after acquiring an additional 3,008 shares during the period. Beese Fulmer Investment Management Inc. boosted its position in Manhattan Bridge Capital by 53.4% in the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Manhattan Bridge Capital by 441.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after purchasing an additional 119,595 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake 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 worth $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.