StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN - Free Report) in a research report released on Tuesday morning. The brokerage issued a strong-buy rating on the credit services provider's stock.
Manhattan Bridge Capital Trading Down 2.4 %
NASDAQ LOAN traded down $0.13 during trading hours on Tuesday, hitting $5.35. 24,283 shares of the company's stock were exchanged, compared to its average volume of 21,350. The stock has a 50-day simple moving average of $5.33 and a 200 day simple moving average of $5.23. 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 $61.20 million, a price-to-earnings ratio of 10.84 and a beta of 0.58.
Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%. The firm had revenue of $2.44 million for the quarter.
Manhattan Bridge Capital Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 8.60%. The ex-dividend date was Tuesday, October 8th. Manhattan Bridge Capital's dividend payout ratio (DPR) is currently 92.00%.
Hedge Funds Weigh In On Manhattan Bridge Capital
A number of institutional investors and hedge funds have recently made changes to their positions in LOAN. B. Riley Wealth Advisors Inc. increased its position in Manhattan Bridge Capital by 67.8% in 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 buying an additional 6,923 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Manhattan Bridge Capital in the 1st quarter worth $69,000. Waddell & Associates LLC grew its position in Manhattan Bridge Capital by 3.9% in the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider's stock valued at $396,000 after purchasing an additional 2,861 shares during the period. PDS Planning Inc bought a new stake in Manhattan Bridge Capital during the 1st quarter valued at $499,000. Finally, Renaissance Technologies LLC raised its holdings in Manhattan Bridge Capital by 13.3% during the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider's stock worth $963,000 after buying an additional 21,950 shares during the last quarter. Institutional investors own 21.84% of the company's stock.
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.
Featured Articles
Before you consider Manhattan Bridge Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Manhattan Bridge Capital wasn't on the list.
While Manhattan Bridge Capital currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
