Manhattan Bridge Capital (NASDAQ:LOAN) Research Coverage Started at StockNews.com

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

Manhattan Bridge Capital Stock Up 1.1 %

LOAN stock opened at $5.63 on Friday. Manhattan Bridge Capital has a twelve month low of $4.27 and a twelve month high of $5.66. The company has a market cap of $64.45 million, a P/E ratio of 11.27 and a beta of 0.58. The business’s fifty day moving average is $5.27 and its 200-day moving average is $5.18.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $2.44 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%.

Manhattan Bridge Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.46 annualized dividend and a yield of 8.17%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 92.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors and hedge funds have recently made changes to their positions in the company. Waddell & Associates LLC raised its stake in Manhattan Bridge Capital by 3.9% during the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after buying an additional 2,861 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Manhattan Bridge Capital by 35.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after buying an additional 6,117 shares during the period. Riversedge Advisors LLC bought a new position in Manhattan Bridge Capital in the second quarter valued at approximately $68,000. Virtu Financial LLC acquired a new position in shares of Manhattan Bridge Capital in the first quarter valued at approximately $69,000. Finally, Renaissance Technologies LLC lifted its stake in Manhattan Bridge Capital by 13.3% in the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after acquiring an additional 21,950 shares in the last quarter. Institutional investors and hedge funds 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.