Manhattan Bridge Capital (NASDAQ:LOAN) Issues Quarterly Earnings Results, Meets Expectations

Manhattan Bridge Capital (NASDAQ:LOAN) announced its quarterly earnings data on Friday. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10, FiscalAI reports. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $2.11 million. Manhattan Bridge Capital had a return on equity of 12.22% and a net margin of 58.67%.

Manhattan Bridge Capital Stock Up 2.3%

Shares of NASDAQ LOAN opened at $4.45 on Friday. The company has a market cap of $50.91 million, a P/E ratio of 9.67 and a beta of 0.25. Manhattan Bridge Capital has a 52 week low of $4.13 and a 52 week high of $6.05. The business has a 50-day simple moving average of $4.43 and a two-hundred day simple moving average of $4.79.

Manhattan Bridge Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 8th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, April 8th. This represents a $0.44 annualized dividend and a yield of 9.9%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 100.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in Manhattan Bridge Capital by 140.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 3,292 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Manhattan Bridge Capital by 28.3% during 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 during the period. Rothschild Wealth LLC purchased a new position in Manhattan Bridge Capital during the fourth quarter worth about $118,000. Kestra Advisory Services LLC increased its stake in Manhattan Bridge Capital by 94.2% in 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 during the last quarter. Finally, Citadel Advisors LLC bought a new position in Manhattan Bridge Capital in the 3rd quarter worth about $149,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Bridge Capital in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Manhattan Bridge Capital Company Profile

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.