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

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

Manhattan Bridge Capital Stock Down 0.4 %

Shares of LOAN stock opened at $5.58 on Thursday. The firm has a market capitalization of $63.83 million, a PE ratio of 11.39 and a beta of 0.57. The company has a 50 day moving average price of $5.46 and a 200-day moving average price of $5.35. 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 announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Manhattan Bridge Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 8.24%. The ex-dividend date of this dividend is Tuesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of hedge funds have recently made changes to their positions in LOAN. Waddell & Associates LLC boosted its position in shares of Manhattan Bridge Capital by 3.9% during the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after acquiring an additional 2,861 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of 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 buying an additional 21,950 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in 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. International Assets Investment Management LLC raised its position 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 valued at $817,000 after purchasing an additional 119,595 shares during the period. Finally, Beese Fulmer Investment Management Inc. lifted its stake in shares of Manhattan Bridge Capital by 53.4% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock valued at $724,000 after purchasing an additional 45,222 shares during the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

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.