Manhattan Bridge Capital (NASDAQ:LOAN) Stock Passes Above 50 Day Moving Average – Here’s Why

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $4.42 and traded as high as $4.75. Manhattan Bridge Capital shares last traded at $4.68, with a volume of 130,888 shares trading hands.

Analysts Set New Price Targets

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

Manhattan Bridge Capital Stock Performance

The company has a fifty day simple moving average of $4.43 and a two-hundred day simple moving average of $4.74. The company has a market capitalization of $51.32 million, a price-to-earnings ratio of 9.98 and a beta of 0.21.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings results on Friday, March 27th. The credit services provider reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $0.00 million during the quarter, compared to the consensus estimate of $2.11 million. Manhattan Bridge Capital had a return on equity of 11.81% and a net margin of 58.97%.

Manhattan Bridge Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date is Wednesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is presently 102.22%.

Institutional Trading of Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently made changes to their positions in LOAN. Osaic Holdings Inc. increased its holdings in shares of Manhattan Bridge Capital by 140.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after buying an additional 3,292 shares during the last quarter. RW Investment Management LLC acquired a new stake in shares of Manhattan Bridge Capital during the 3rd quarter worth $71,000. Bridgeway Capital Management LLC increased its holdings in shares of Manhattan Bridge Capital by 28.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock worth $91,000 after buying an additional 4,300 shares during the last quarter. Rothschild Wealth LLC acquired a new stake in shares of Manhattan Bridge Capital during the 4th quarter worth $118,000. Finally, Kestra Advisory Services LLC increased its holdings 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 buying an additional 12,553 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.