StockNews.com Begins Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOANFree Report) in a research note issued to investors on Sunday. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

Shares of Manhattan Bridge Capital stock opened at $5.31 on Friday. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.90. The firm has a market cap of $60.74 million, a PE ratio of 10.62 and a beta of 0.58. The company has a 50 day simple moving average of $5.31 and a two-hundred day simple moving average of $5.21.

Manhattan Bridge Capital (NASDAQ:LOANGet Free Report) last posted its quarterly earnings results on Monday, July 22nd. The credit services provider reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The firm had revenue of $2.44 million for the quarter. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%.

Manhattan Bridge Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 8.66%. The ex-dividend date of this dividend is Tuesday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 92.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Riversedge Advisors LLC purchased a new position in shares of Manhattan Bridge Capital in the second quarter worth $68,000. Virtu Financial LLC purchased a new position in Manhattan Bridge Capital during the 1st quarter valued at $69,000. B. Riley Wealth Advisors Inc. increased its position 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 purchasing an additional 6,923 shares during the period. North Star Investment Management Corp. purchased a new position in Manhattan Bridge Capital during the 1st quarter valued at $234,000. Finally, Abacus Wealth Partners LLC increased its position in Manhattan Bridge Capital by 288.7% during the 1st quarter. Abacus Wealth Partners LLC now owns 56,216 shares of the credit services provider’s stock valued at $284,000 after purchasing an additional 41,752 shares during the period. 21.84% of the stock is owned by hedge funds and other institutional investors.

About Manhattan Bridge Capital

(Get Free Report)

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.

Further Reading

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