Manhattan Bridge Capital (NASDAQ:LOAN) Coverage Initiated by Analysts at StockNews.com

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

Manhattan Bridge Capital Stock Performance

NASDAQ LOAN opened at $5.06 on Thursday. The stock’s fifty day moving average is $4.92 and its two-hundred day moving average is $4.79. The firm has a market capitalization of $57.89 million, a P/E ratio of 10.12 and a beta of 0.59. Manhattan Bridge Capital has a fifty-two week low of $4.27 and a fifty-two week high of $5.29.

Manhattan Bridge Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Wednesday, July 10th will be issued a $0.115 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $0.46 annualized dividend and a dividend yield of 9.09%. Manhattan Bridge Capital’s dividend payout ratio is presently 92.00%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently modified their holdings of LOAN. Hardy Reed LLC raised its holdings in shares of Manhattan Bridge Capital by 871.6% in the 3rd quarter. Hardy Reed LLC now owns 332,296 shares of the credit services provider’s stock valued at $1,595,000 after buying an additional 298,096 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Manhattan Bridge Capital by 447.4% in the 4th 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 period. Soltis Investment Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital in the 3rd quarter valued at $389,000. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of 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 valued at $564,000 after buying an additional 62,385 shares during the period. Finally, Melia Wealth LLC purchased a new stake in shares of Manhattan Bridge Capital in the 1st quarter valued at $315,000. Hedge funds and other institutional investors 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.