Manhattan Bridge Capital (NASDAQ:LOAN) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.60 and traded as low as $4.22. Manhattan Bridge Capital shares last traded at $4.23, with a volume of 42,905 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Manhattan Bridge Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Manhattan Bridge Capital currently has an average rating of “Hold”.

Manhattan Bridge Capital Price Performance

The stock’s 50-day moving average is $4.42 and its 200 day moving average is $4.60. The stock has a market cap of $48.81 million, a price-to-earnings ratio of 9.70 and a beta of 0.18.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Thursday, April 16th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Manhattan Bridge Capital had a return on equity of 11.59% and a net margin of 59.24%.The business had revenue of $2.07 million for the quarter, compared to analysts’ expectations of $2.18 million.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 8th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.44 dividend on an annualized basis and a yield of 10.3%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 100.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of large investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC increased its holdings in Manhattan Bridge Capital by 28.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock valued at $91,000 after buying an additional 4,300 shares in the last quarter. Rothschild Wealth LLC purchased a new stake in shares of Manhattan Bridge Capital during the 4th quarter worth approximately $118,000. Kestra Advisory Services LLC boosted its stake in shares of Manhattan Bridge Capital by 94.2% during the 4th quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider’s stock worth $120,000 after acquiring an additional 12,553 shares in the last quarter. Melia Wealth LLC grew its holdings in shares of Manhattan Bridge Capital by 2.6% in the 4th quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock worth $2,082,000 after acquiring an additional 11,173 shares during the period. Finally, Frazier Financial Advisors LLC grew its holdings in shares of Manhattan Bridge Capital by 173.4% in the 4th quarter. Frazier Financial Advisors LLC now owns 79,637 shares of the credit services provider’s stock worth $370,000 after acquiring an additional 50,511 shares during the period. Hedge funds and other institutional investors own 21.84% of the company’s stock.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.