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

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

Manhattan Bridge Capital Stock Performance

LOAN opened at $5.47 on Tuesday. The stock has a market capitalization of $62.57 million, a PE ratio of 11.16 and a beta of 0.57. The stock’s 50 day moving average price is $5.43 and its 200-day moving average price is $5.32. Manhattan Bridge Capital has a 52-week low of $4.60 and a 52-week high of $5.90.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. The business 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 declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.115 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 8.41%. Manhattan Bridge Capital’s payout ratio is 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several hedge funds have recently bought and sold shares of LOAN. Soltis Investment Advisors LLC purchased a new position in shares of Manhattan Bridge Capital during the third quarter valued at approximately $14,758,000. International Assets Investment Management LLC lifted its stake in shares of Manhattan Bridge Capital by 441.5% in the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after buying an additional 119,595 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its position in shares of Manhattan Bridge Capital by 53.4% during the third 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 in the last quarter. Renaissance Technologies LLC raised its holdings in 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 acquiring an additional 21,950 shares during the last quarter. Finally, Riversedge Advisors LLC bought a new position in Manhattan Bridge Capital in the 2nd quarter valued at approximately $68,000. 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.