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

by · The Cerbat Gem

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

Manhattan Bridge Capital Stock Up 0.9 %

Shares of Manhattan Bridge Capital stock opened at $5.59 on Monday. The business has a fifty day simple moving average of $5.42 and a 200-day simple moving average of $5.31. Manhattan Bridge Capital has a fifty-two week low of $4.60 and a fifty-two week 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 0.57.

Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last issued its quarterly earnings results 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 during 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.115 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 8.23%. Manhattan Bridge Capital’s dividend payout ratio is currently 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently modified their holdings of LOAN. Riversedge Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the 2nd quarter valued at $68,000. Waddell & Associates LLC lifted its stake 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 buying an additional 2,861 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of 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. B. Riley Wealth Advisors Inc. increased its position in shares of Manhattan Bridge Capital by 35.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after acquiring an additional 6,117 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position 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 acquiring an additional 119,595 shares in the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

About Manhattan Bridge Capital

(Get Free Report)

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.

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