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 firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

LOAN stock opened at $5.76 on Friday. The firm has a market cap of $65.89 million, a P/E ratio of 11.76 and a beta of 0.48. Manhattan Bridge Capital has a 1 year low of $4.80 and a 1 year high of $5.90. The stock has a 50-day simple moving average of $5.63 and a 200-day simple moving average of $5.51.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Wednesday, March 12th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $2.36 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be given a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $0.46 dividend on an annualized basis and a yield of 7.99%. Manhattan Bridge Capital’s payout ratio is currently 95.83%.

Institutional Trading of Manhattan Bridge Capital

A number of hedge funds and other institutional investors have recently modified their holdings of LOAN. Soltis Investment Advisors LLC purchased a new position in Manhattan Bridge Capital in the third quarter valued at about $14,758,000. Cary Street Partners Financial LLC acquired a new position in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $1,684,000. Avant Financial Advisors LLC purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at approximately $1,626,000. Fortress Financial Solutions LLC acquired a new stake in shares of Manhattan Bridge Capital during the fourth quarter worth approximately $685,000. Finally, Capital Management Associates Inc bought a new stake in shares of Manhattan Bridge Capital in the fourth quarter worth $184,000. 21.84% of the stock is 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.