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

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued to investors on Friday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Down 1.1 %

Shares of NASDAQ LOAN opened at $5.45 on Friday. The business’s 50 day moving average price is $5.47 and its two-hundred day moving average price is $5.37. The company has a market cap of $62.34 million, a PE ratio of 11.12 and a beta of 0.55. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS 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 company had revenue of $2.31 million during the quarter.

Manhattan Bridge Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.44%. The ex-dividend date of this dividend is Tuesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio is presently 93.88%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LOAN. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Manhattan Bridge Capital by 35.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after acquiring an additional 6,117 shares during the period. Geode Capital Management LLC lifted its holdings in Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after purchasing an additional 3,008 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in Manhattan Bridge Capital by 53.4% in 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 during the period. International Assets Investment Management LLC grew its holdings in Manhattan Bridge Capital by 441.5% in the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after buying an additional 119,595 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Manhattan Bridge Capital by 13.3% during 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. 21.84% of the stock is owned by institutional investors.

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.