Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report published on Sunday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Trading Down 0.5 %

Shares of NASDAQ:LOAN opened at $5.59 on Friday. The stock’s 50-day moving average price is $5.53 and its two-hundred day moving average price is $5.40. Manhattan Bridge Capital has a 12-month low of $4.60 and a 12-month high of $5.90. The firm has a market cap of $63.95 million, a price-to-earnings ratio of 11.41 and a beta of 0.55.

Manhattan Bridge Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 8.23%. The ex-dividend date was Tuesday, December 31st. Manhattan Bridge Capital’s payout ratio is 93.88%.

Institutional Trading of Manhattan Bridge Capital

A number of hedge funds have recently added to or reduced their stakes in LOAN. 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 valued at $963,000 after purchasing an additional 21,950 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Manhattan Bridge Capital by 35.7% during 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. International Assets Investment Management LLC grew its holdings 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 worth $817,000 after purchasing an additional 119,595 shares during the period. Beese Fulmer Investment Management Inc. grew its holdings in shares of Manhattan Bridge Capital by 53.4% during the 3rd 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 period. Finally, Geode Capital Management LLC grew its holdings in shares of Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after purchasing an additional 3,008 shares during the period. 21.84% of the stock is owned by institutional investors and hedge funds.

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.