StockNews.com Initiates Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

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

Manhattan Bridge Capital Price Performance

LOAN stock opened at $5.47 on Friday. Manhattan Bridge Capital has a 1-year low of $4.60 and a 1-year high of $5.90. The stock has a market capitalization of $62.58 million, a P/E ratio of 11.16 and a beta of 0.57. The business has a fifty day moving average price of $5.42 and a 200-day moving average price of $5.30.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The company 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 Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LOAN. Riversedge Advisors LLC bought a new stake in shares of Manhattan Bridge Capital in the second quarter worth about $68,000. Virtu Financial LLC bought a new stake in Manhattan Bridge Capital in the first quarter worth $69,000. B. Riley Wealth Advisors Inc. raised its stake 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 valued at $82,000 after purchasing an additional 6,923 shares in the last quarter. Waddell & Associates LLC lifted its position in Manhattan Bridge Capital by 3.9% during the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after purchasing an additional 2,861 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Manhattan Bridge Capital by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after buying an additional 3,008 shares during the last quarter. Hedge funds and other institutional investors 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.