Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Manhattan Bridge Capital Trading Up 0.7 %

Shares of Manhattan Bridge Capital stock opened at $5.67 on Friday. The business’s fifty day moving average price is $5.49 and its 200 day moving average price is $5.39. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90. The stock has a market capitalization of $64.86 million, a P/E ratio of 11.57 and a beta of 0.55.

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 for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.115 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 8.11%. Manhattan Bridge Capital’s payout ratio is 93.88%.

Institutional Trading of Manhattan Bridge Capital

Several large investors have recently added to or reduced their stakes in LOAN. Soltis Investment Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital in the third quarter worth about $14,758,000. International Assets Investment Management LLC lifted its position in Manhattan Bridge Capital by 441.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after acquiring an additional 119,595 shares in the last quarter. Beese Fulmer Investment Management Inc. lifted its position in Manhattan Bridge Capital by 53.4% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after acquiring an additional 45,222 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in 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 acquiring an additional 21,950 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in 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 valued at $120,000 after acquiring an additional 6,117 shares in the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.