Manhattan Bridge Capital (NASDAQ:LOAN) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Manhattan Bridge Capital (NASDAQ:LOAN) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.

Manhattan Bridge Capital Price Performance

NASDAQ LOAN opened at $5.26 on Monday. The stock’s 50-day simple moving average is $5.24 and its two-hundred day simple moving average is $5.07. Manhattan Bridge Capital has a twelve month low of $4.27 and a twelve month high of $5.59. The company has a market capitalization of $60.17 million, a price-to-earnings ratio of 10.42 and a beta of 0.59.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data on Monday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The company had revenue of $2.44 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 8th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.75%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 92.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of Manhattan Bridge Capital by 447.4% during the fourth quarter. International Assets Investment Management LLC now owns 126,196 shares of the credit services provider’s stock valued at $627,000 after buying an additional 103,143 shares during the last quarter. PDS Planning Inc bought a new position in Manhattan Bridge Capital during the 1st quarter worth approximately $499,000. Beese Fulmer Investment Management Inc. bought a new position in Manhattan Bridge Capital during the 2nd quarter worth approximately $436,000. Pinnacle Wealth Planning Services Inc. increased its stake in Manhattan Bridge Capital by 122.2% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 113,446 shares of the credit services provider’s stock worth $564,000 after purchasing an additional 62,385 shares during the period. Finally, Melia Wealth LLC bought a new stake in Manhattan Bridge Capital in the first quarter valued at approximately $315,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

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.