StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN - Free Report) in a research report sent to investors on Sunday. The brokerage issued a strong-buy rating on the credit services provider's stock.
Manhattan Bridge Capital Price Performance
NASDAQ LOAN remained flat at $5.36 during trading on Friday. 14,025 shares of the company's stock were exchanged, compared to its average volume of 13,218. Manhattan Bridge Capital has a 1 year low of $4.53 and a 1 year high of $5.90. The stock has a fifty day simple moving average of $5.42 and a 200-day simple moving average of $5.29. The company has a market capitalization of $61.32 million, a PE ratio of 10.94 and a beta of 0.58.
Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last announced its quarterly 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. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The firm had revenue of $2.31 million for the quarter.
Manhattan Bridge Capital Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 8.58%. Manhattan Bridge Capital's dividend payout ratio is currently 93.88%.
Institutional Trading of Manhattan Bridge Capital
Hedge funds and other institutional investors have recently made changes to their positions in the company. Riversedge Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital in the second quarter worth $68,000. Virtu Financial LLC purchased a new position in shares of Manhattan Bridge Capital in the first quarter worth $69,000. B. Riley Wealth Advisors Inc. increased its holdings 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. Waddell & Associates LLC boosted its holdings in Manhattan Bridge Capital by 3.9% in the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider's stock valued at $396,000 after acquiring an additional 2,861 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider's stock worth $635,000 after buying an additional 3,008 shares during the period. 21.84% of the stock is currently owned by institutional investors.
About Manhattan Bridge Capital
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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.
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