Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock opened at $5.45 on Friday. Manhattan Bridge Capital has a fifty-two week low of $4.60 and a fifty-two week high of $5.90. The company has a market capitalization of $62.34 million, a price-to-earnings ratio of 11.12 and a beta of 0.55. The stock has a fifty day moving average of $5.47 and a two-hundred day moving average of $5.38.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.115 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 8.44%. Manhattan Bridge Capital’s dividend payout ratio is presently 93.88%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently modified their holdings of the company. Soltis Investment Advisors LLC acquired a new position in shares of Manhattan Bridge Capital during the third quarter worth about $14,758,000. International Assets Investment Management LLC raised its holdings in shares of Manhattan Bridge Capital by 441.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after buying an additional 119,595 shares during the period. Geode Capital Management LLC lifted its position in Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after acquiring an additional 3,008 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after acquiring an additional 6,117 shares during the period. Finally, Renaissance Technologies LLC grew its position in Manhattan Bridge Capital by 13.3% in the second 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. 21.84% of the stock is owned by institutional investors and hedge funds.

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.