Manhattan Bridge Capital (NASDAQ:LOAN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.33 and traded as high as $5.53. Manhattan Bridge Capital shares last traded at $5.53, with a volume of 17,939 shares traded.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Manhattan Bridge Capital in a research report on Wednesday. They issued a “strong-buy” rating on the stock.

Manhattan Bridge Capital Stock Up 3.0 %

The firm has a 50-day simple moving average of $5.43 and a 200-day simple moving average of $5.33. The stock has a market cap of $63.26 million, a PE ratio of 11.29 and a beta of 0.57.

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

Manhattan Bridge Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.32%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 93.88%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several hedge funds have recently bought and sold shares of the company. Waddell & Associates LLC lifted its stake 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 worth $396,000 after purchasing an additional 2,861 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after purchasing an additional 3,008 shares during the period. B. Riley Wealth Advisors Inc. raised 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 buying an additional 6,117 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Manhattan Bridge Capital by 13.3% during the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after buying an additional 21,950 shares during the period. Finally, Beese Fulmer Investment Management Inc. grew its position in Manhattan Bridge Capital by 53.4% during 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 in the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

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.