Manhattan Bridge Capital (NASDAQ:LOAN) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Manhattan Bridge Capital, Inc (NASDAQ:LOANGet Free Report) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.31 and traded as low as $4.09. Manhattan Bridge Capital shares last traded at $4.12, with a volume of 19,254 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

View Our Latest Stock Report on LOAN

Manhattan Bridge Capital Stock Performance

The company has a market capitalization of $46.63 million, a PE ratio of 9.71 and a beta of 0.15. The firm’s 50-day simple moving average is $4.18 and its 200 day simple moving average is $4.30.

Manhattan Bridge Capital (NASDAQ:LOANGet Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $2.04 million. Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%.

Manhattan Bridge Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 104.76%.

Insider Activity at Manhattan Bridge Capital

In other news, CEO Assaf Ran purchased 8,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average price of $3.99 per share, with a total value of $31,920.00. Following the purchase, the chief executive officer directly owned 1,235,000 shares of the company’s stock, valued at $4,927,650. The trade was a 0.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 24.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Manhattan Bridge Capital

Hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its position in Manhattan Bridge Capital by 140.7% during the second 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. RW Investment Management LLC acquired a new stake in Manhattan Bridge Capital in the second quarter valued at $59,000. Bridgeway Capital Management LLC increased its position in shares of Manhattan Bridge Capital by 28.3% in 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 in the last quarter. Rothschild Wealth LLC purchased a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at $118,000. Finally, Kestra Advisory Services LLC raised its stake 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 owned by hedge funds and other institutional investors.

About Manhattan Bridge Capital

(Get Free Report)

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.

Further Reading

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