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

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

Manhattan Bridge Capital Stock Performance

LOAN stock opened at $5.36 on Friday. The stock has a market capitalization of $61.32 million, a PE ratio of 10.94 and a beta of 0.58. Manhattan Bridge Capital has a 12-month low of $4.53 and a 12-month high of $5.90. The stock’s 50 day simple moving average is $5.42 and its 200 day simple moving average is $5.29.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its 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 business 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.115 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.46 dividend on an annualized basis and a yield of 8.58%. Manhattan Bridge Capital’s dividend payout ratio is presently 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of hedge funds have recently added to or reduced their stakes in LOAN. B. Riley Wealth Advisors Inc. raised its stake in 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 buying an additional 6,923 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Manhattan Bridge Capital in the 1st quarter worth $69,000. Riversedge Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital in the 2nd quarter worth $68,000. Waddell & Associates LLC increased its stake in shares of 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. Finally, Renaissance Technologies LLC increased its stake 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 purchasing an additional 21,950 shares in the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

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.