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

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

Manhattan Bridge Capital Stock Up 0.2 %

NASDAQ:LOAN opened at $5.07 on Thursday. The stock’s 50-day simple moving average is $4.93 and its 200 day simple moving average is $4.79. The firm has a market capitalization of $58.00 million, a PE ratio of 10.14 and a beta of 0.59. Manhattan Bridge Capital has a twelve month low of $4.27 and a twelve month high of $5.29.

Manhattan Bridge Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 9.07%. The ex-dividend date is Wednesday, July 10th. Manhattan Bridge Capital’s payout ratio is 92.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bellwether Advisors LLC increased its holdings in Manhattan Bridge Capital by 24.0% in the third quarter. Bellwether Advisors LLC now owns 161,224 shares of the credit services provider’s stock worth $774,000 after purchasing an additional 31,184 shares in the last quarter. Waddell & Associates LLC raised its stake in shares of Manhattan Bridge Capital by 16.9% during the 3rd quarter. Waddell & Associates LLC now owns 102,772 shares of the credit services provider’s stock valued at $493,000 after purchasing an additional 14,882 shares during the period. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Manhattan Bridge Capital by 23.0% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 51,061 shares of the credit services provider’s stock valued at $245,000 after purchasing an additional 9,553 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of Manhattan Bridge Capital by 11.7% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 111,183 shares of the credit services provider’s stock valued at $534,000 after purchasing an additional 11,680 shares during the period. Finally, Soltis Investment Advisors LLC bought a new stake in shares of Manhattan Bridge Capital during the 3rd quarter valued at $389,000. 21.84% of the stock is owned by institutional investors and hedge funds.

Manhattan Bridge Capital Company Profile

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.