StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN - Free Report) in a research report report published on Tuesday. The brokerage issued a strong-buy rating on the credit services provider's stock.
Manhattan Bridge Capital Trading Down 0.2 %
NASDAQ:LOAN traded down $0.01 during mid-day trading on Tuesday, hitting $5.60. The stock had a trading volume of 8,105 shares, compared to its average volume of 12,880. The stock has a 50-day simple moving average of $5.59 and a two-hundred day simple moving average of $5.43. The company has a market capitalization of $64.06 million, a PE ratio of 11.43 and a beta of 0.55. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90.
Manhattan Bridge Capital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be issued a $0.115 dividend. The ex-dividend date is Tuesday, April 8th. This represents a $0.46 annualized dividend and a yield of 8.21%. Manhattan Bridge Capital's dividend payout ratio (DPR) is 93.88%.
Institutional Trading of Manhattan Bridge Capital
Several hedge funds have recently added to or reduced their stakes in LOAN. Soltis Investment Advisors LLC acquired a new stake in Manhattan Bridge Capital in the third quarter valued at approximately $14,758,000. Fortress Financial Solutions LLC acquired a new stake in Manhattan Bridge Capital during the fourth quarter worth approximately $685,000. International Assets Investment Management LLC raised its holdings in Manhattan Bridge Capital by 441.5% during the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider's stock worth $817,000 after purchasing an additional 119,595 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its holdings in Manhattan Bridge Capital by 53.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider's stock worth $724,000 after purchasing an additional 45,222 shares in the last quarter. Finally, Capital Management Associates Inc acquired a new stake in Manhattan Bridge Capital during the fourth quarter worth approximately $184,000. Institutional investors and hedge funds own 21.84% of the company's stock.
Manhattan Bridge Capital Company Profile
(
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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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