Manhattan Bridge Capital (NASDAQ:LOAN) Stock Price Crosses Below 200 Day Moving Average - Here's Why

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.54 and traded as low as $5.20. Manhattan Bridge Capital shares last traded at $5.23, with a volume of 102,026 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Manhattan Bridge Capital in a research note on Tuesday, April 8th. They issued a "strong-buy" rating for the company.

Manhattan Bridge Capital Stock Up 0.8 %

The company's fifty day simple moving average is $5.58 and its two-hundred day simple moving average is $5.52. The company has a market capitalization of $56.74 million, a price-to-earnings ratio of 10.12 and a beta of 0.26.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The credit services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The business had revenue of $2.36 million for the quarter.

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be paid a dividend of $0.115 per share. 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 9.27%. Manhattan Bridge Capital's payout ratio is 95.83%.

Institutional Trading of Manhattan Bridge Capital

Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new stake in Manhattan Bridge Capital in the 4th quarter valued at $97,000. OLIO Financial Planning acquired a new position in shares of Manhattan Bridge Capital during the fourth quarter worth about $117,000. NewEdge Advisors LLC grew its holdings in shares of Manhattan Bridge Capital by 28.4% during the fourth quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider's stock worth $157,000 after buying an additional 6,215 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in Manhattan Bridge Capital by 13.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider's stock valued at $159,000 after buying an additional 3,324 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in Manhattan Bridge Capital in the 4th quarter valued at approximately $169,000. 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.