Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by Analysts at StockNews.com

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

Manhattan Bridge Capital Price Performance

Shares of NASDAQ:LOAN opened at $5.43 on Monday. The company has a market capitalization of $62.11 million, a PE ratio of 10.86 and a beta of 0.58. The business has a fifty day moving average price of $5.30 and a two-hundred day moving average price of $5.22. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. The firm had revenue of $2.44 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%.

Manhattan Bridge Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 8th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.47%. Manhattan Bridge Capital’s dividend payout ratio is presently 92.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Waddell & Associates LLC lifted 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 buying an additional 2,861 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Manhattan Bridge Capital by 35.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after buying an additional 6,117 shares during the last quarter. Riversedge Advisors LLC purchased a new position in shares of Manhattan Bridge Capital during the 2nd quarter valued at $68,000. Virtu Financial LLC purchased a new position in shares of Manhattan Bridge Capital during the 1st quarter valued at $69,000. Finally, Renaissance Technologies LLC lifted its holdings in Manhattan Bridge Capital by 13.3% during 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. Hedge funds and other 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.