Manhattan Bridge Capital (NASDAQ:LOAN) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Manhattan Bridge Capital, Inc (NASDAQ:LOAN)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.52 and traded as low as $4.18. Manhattan Bridge Capital shares last traded at $4.23, with a volume of 12,122 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Manhattan Bridge Capital from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Manhattan Bridge Capital Stock Up 0.2%

The stock has a market capitalization of $48.23 million, a price-to-earnings ratio of 9.57 and a beta of 0.18. The business’s 50 day simple moving average is $4.38 and its 200-day simple moving average is $4.51.

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

Manhattan Bridge Capital Dividend Announcement

The company 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. This represents a $0.44 annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend is Wednesday, July 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 100.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in Manhattan Bridge Capital by 7.9% in the 1st quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock valued at $872,000 after buying an additional 14,290 shares during the period. Frazier Financial Advisors LLC increased its holdings in Manhattan Bridge Capital by 156.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock valued at $907,000 after buying an additional 124,229 shares during the period. Bridgeway Capital Management LLC increased its holdings in Manhattan Bridge Capital by 28.3% in the 4th 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 bought a new position in Manhattan Bridge Capital in the 4th quarter valued at about $118,000. Finally, Kestra Advisory Services LLC increased its holdings 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 valued at $120,000 after buying an additional 12,553 shares during the period. 21.84% of the stock is owned by institutional investors.

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.