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

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

Manhattan Bridge Capital Trading Up 0.6 %

Shares of LOAN stock opened at $5.50 on Monday. The business’s fifty day simple moving average is $5.42 and its 200-day simple moving average is $5.30. Manhattan Bridge Capital has a 12-month low of $4.60 and a 12-month high of $5.90. The company has a market cap of $62.92 million, a PE ratio of 11.22 and a beta of 0.57.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings results 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. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The business had revenue of $2.31 million for the quarter.

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.115 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 8.36%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 93.88%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors and hedge funds have recently modified their holdings of the stock. 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 holdings in Manhattan Bridge Capital by 3.9% in the 2nd 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 in the last quarter. Renaissance Technologies LLC lifted its stake 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 in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Manhattan Bridge Capital by 35.7% in 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 in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Manhattan Bridge Capital by 441.5% during 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 last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

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.