Manhattan Bridge Capital (LOAN) Expected to Announce Quarterly Earnings on Monday

Manhattan Bridge Capital (NASDAQ:LOAN) is projected to issue its results before the market opens on Monday, March 9th. Analysts expect the company to announce earnings of $0.10 per share for the quarter.

Manhattan Bridge Capital Stock Down 2.3%

LOAN opened at $4.26 on Friday. The business’s fifty day simple moving average is $4.51 and its 200 day simple moving average is $4.89. Manhattan Bridge Capital has a 52 week low of $4.25 and a 52 week high of $6.05. The stock has a market cap of $48.73 million, a PE ratio of 9.26 and a beta of 0.25.

Manhattan Bridge Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date is Wednesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is presently 100.00%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bridgeway Capital Management LLC grew its position in Manhattan Bridge Capital by 28.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock worth $91,000 after acquiring an additional 4,300 shares during the last quarter. Rothschild Wealth LLC bought a new stake in Manhattan Bridge Capital in the fourth quarter valued at approximately $118,000. Kestra Advisory Services LLC boosted its stake in shares of Manhattan Bridge Capital by 94.2% during the fourth quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider’s stock valued at $120,000 after purchasing an additional 12,553 shares during the period. Gen Wealth Partners Inc bought a new position in shares of Manhattan Bridge Capital in the fourth quarter worth approximately $161,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Manhattan Bridge Capital by 4.5% in the fourth quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock worth $845,000 after purchasing an additional 7,900 shares during the last quarter. Institutional investors own 21.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Bridge Capital in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Manhattan Bridge Capital Company Profile

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.