StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN - Free Report) in a research note issued to investors on Thursday morning. The firm issued a strong-buy rating on the credit services provider's stock.
Manhattan Bridge Capital Stock Down 0.4 %
Manhattan Bridge Capital stock traded down $0.02 during midday trading on Thursday, reaching $5.58. The stock had a trading volume of 26,387 shares, compared to its average volume of 20,633. The firm has a market cap of $63.83 million, a price-to-earnings ratio of 11.39 and a beta of 0.57. Manhattan Bridge Capital has a 52-week low of $4.60 and a 52-week high of $5.90. The company has a fifty day moving average of $5.45 and a 200 day moving average of $5.35.
Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate 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 Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.24%. The ex-dividend date is Tuesday, December 31st. Manhattan Bridge Capital's payout ratio is presently 93.88%.
Institutional Investors Weigh In On Manhattan Bridge Capital
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOAN. Soltis Investment Advisors LLC bought a new position in Manhattan Bridge Capital in the 3rd quarter worth about $14,758,000. International Assets Investment Management LLC grew its stake in Manhattan Bridge Capital by 441.5% in 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 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 valued at $724,000 after purchasing an additional 45,222 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 buying an additional 21,950 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Manhattan Bridge Capital by 35.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider's stock worth $120,000 after buying an additional 6,117 shares in 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.
Further Reading
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
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
