StockNews.com Begins Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report report published on Saturday. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Up 0.4 %

Shares of NASDAQ:LOAN opened at $5.70 on Friday. The company has a market capitalization of $65.25 million, a P/E ratio of 11.64 and a beta of 0.48. Manhattan Bridge Capital has a 52-week low of $4.69 and a 52-week high of $5.90. The stock’s fifty day simple moving average is $5.60 and its 200-day simple moving average is $5.49.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Wednesday, March 12th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $2.36 million during the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $0.46 annualized dividend and a yield of 8.06%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 95.83%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new position in Manhattan Bridge Capital in the fourth quarter valued at $97,000. OLIO Financial Planning acquired a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at about $117,000. NewEdge Advisors LLC lifted its holdings in shares of Manhattan Bridge Capital by 28.4% during the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock worth $157,000 after acquiring an additional 6,215 shares during the period. Atria Wealth Solutions Inc. boosted its position in shares of Manhattan Bridge Capital by 13.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock worth $159,000 after acquiring an additional 3,324 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of Manhattan Bridge Capital in the fourth quarter worth approximately $169,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

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.