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

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

Manhattan Bridge Capital Stock Performance

Shares of LOAN stock opened at $5.36 on Friday. Manhattan Bridge Capital has a 52-week low of $4.53 and a 52-week high of $5.90. The firm has a market capitalization of $61.32 million, a PE ratio of 10.94 and a beta of 0.58. The stock has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $5.29.

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, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The business had revenue of $2.31 million during the quarter.

Manhattan Bridge Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 8.58%. The ex-dividend date is Tuesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 93.88%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LOAN. Riversedge Advisors LLC bought a new position in shares of Manhattan Bridge Capital during the 2nd quarter valued at about $68,000. Virtu Financial LLC bought a new position in shares of Manhattan Bridge Capital during the 1st quarter valued at about $69,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Manhattan Bridge Capital by 67.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after purchasing an additional 6,923 shares during the last quarter. Waddell & Associates LLC boosted its holdings 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 purchasing an additional 2,861 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after purchasing an additional 3,008 shares during the last quarter. Institutional investors 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.