Manhattan Bridge Capital (NASDAQ:LOAN) Research Coverage Started at StockNews.com

by · The Cerbat Gem

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

Manhattan Bridge Capital Stock Up 2.3 %

NASDAQ LOAN opened at $5.41 on Friday. The firm has a market cap of $61.88 million, a P/E ratio of 10.82 and a beta of 0.58. Manhattan Bridge Capital has a 52-week low of $4.27 and a 52-week high of $5.59. The business’s 50-day moving average price is $5.24 and its 200 day moving average price is $5.14.

Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last announced its earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a yield of 8.50%. Manhattan Bridge Capital’s payout ratio is currently 92.00%.

Institutional Trading of Manhattan Bridge Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. PDS Planning Inc acquired a new stake in Manhattan Bridge Capital in the first quarter valued at about $499,000. Beese Fulmer Investment Management Inc. acquired a new stake in shares of Manhattan Bridge Capital in the 2nd quarter valued at approximately $436,000. Melia Wealth LLC acquired a new stake in shares of Manhattan Bridge Capital in the 1st quarter valued at approximately $315,000. North Star Investment Management Corp. purchased a new stake in shares of Manhattan Bridge Capital in the first quarter valued at approximately $234,000. Finally, Abacus Wealth Partners LLC grew its holdings in Manhattan Bridge Capital by 288.7% during the first quarter. Abacus Wealth Partners LLC now owns 56,216 shares of the credit services provider’s stock worth $284,000 after acquiring an additional 41,752 shares during the period. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

(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.

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