Manhattan Bridge Capital (NASDAQ:LOAN) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

by · The Markets Daily

Manhattan Bridge Capital, Inc (NASDAQ:LOAN – Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.29 and traded as low as $3.92. Manhattan Bridge Capital shares last traded at $3.92, with a volume of 22,165 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Read Our Latest Stock Analysis on Manhattan Bridge Capital

Manhattan Bridge Capital Price Performance

The stock’s 50-day moving average is $4.12 and its 200-day moving average is $4.29. The stock has a market cap of $44.58 million, a price-to-earnings ratio of 9.29 and a beta of 0.15.

Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%. The business had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.04 million.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 8th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 11.3%. The ex-dividend date is Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio is presently 104.76%.

Insiders Place Their Bets

In other Manhattan Bridge Capital news, CEO Assaf Ran purchased 8,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of $3.99 per share, with a total value of $31,920.00. Following the purchase, the chief executive officer owned 1,235,000 shares in the company, valued at approximately $4,927,650. This represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 24.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Melia Wealth LLC grew its holdings in Manhattan Bridge Capital by 2.6% in the fourth quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock valued at $2,082,000 after purchasing an additional 11,173 shares during the period. Frazier Financial Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital during the 2nd quarter worth about $970,000. Renaissance Technologies LLC lifted its position in Manhattan Bridge Capital by 7.9% during the first quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock valued at $872,000 after buying an additional 14,290 shares in the last quarter. BlackRock Inc. purchased a new stake in Manhattan Bridge Capital during the second quarter worth approximately $198,000. Finally, Eclectic Associates Inc. ADV purchased a new stake in Manhattan Bridge Capital during the 2nd quarter worth $190,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

About Manhattan Bridge Capital

(Get Free Report)

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, secured loans. Its lending activities primarily involve first mortgage loans backed by residential, multifamily and commercial properties.

The company generally provides financing to real estate investors and developers, including borrowers who may not be served by traditional banks. Its loans are secured by the underlying property and are intended to support acquisitions, renovations, construction and other real estate-related activities.

Manhattan Bridge Capital has historically focused on properties in the New York metropolitan area, including New York City and surrounding markets.

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