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

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

Manhattan Bridge Capital Stock Down 0.5 %

NASDAQ LOAN opened at $5.59 on Friday. The stock has a market cap of $63.95 million, a PE ratio of 11.41 and a beta of 0.55. Manhattan Bridge Capital has a fifty-two week low of $4.60 and a fifty-two week high of $5.90. The business has a 50 day moving average price of $5.53 and a two-hundred day moving average price of $5.40.

Manhattan Bridge Capital Dividend Announcement

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

Institutional Investors Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently made changes to their positions in LOAN. Soltis Investment Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital during the 3rd quarter valued at approximately $14,758,000. International Assets Investment Management LLC increased its position in 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 during the period. Beese Fulmer Investment Management Inc. increased 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 buying an additional 45,222 shares during the period. Capital Management Associates Inc acquired a new stake in Manhattan Bridge Capital in the fourth quarter worth $184,000. Finally, Renaissance Technologies LLC increased its position in Manhattan Bridge Capital by 13.3% in the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after buying an additional 21,950 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.