Manhattan Bridge Capital (NASDAQ:LOAN) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Manhattan Bridge Capital, Inc (NASDAQ:LOAN)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.47 and traded as low as $4.39. Manhattan Bridge Capital shares last traded at $4.46, with a volume of 41,836 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Manhattan Bridge Capital Price Performance

The company has a market capitalization of $50.75 million, a PE ratio of 10.09 and a beta of 0.17. The company has a 50 day moving average of $4.33 and a two-hundred day moving average of $4.47.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Thursday, April 16th. The credit services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $2.07 million for the quarter, compared to the consensus estimate of $2.18 million. Manhattan Bridge Capital had a net margin of 59.24% and a return on equity of 11.59%.

Manhattan Bridge Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 8th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend is Wednesday, July 8th. Manhattan Bridge Capital’s payout ratio is currently 100.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently modified their holdings of LOAN. Osaic Holdings Inc. boosted its stake in Manhattan Bridge Capital by 140.7% in the 2nd 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 bought a new stake in Manhattan Bridge Capital during the 3rd quarter valued at about $71,000. Bridgeway Capital Management LLC raised its holdings in 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 worth $91,000 after buying an additional 4,300 shares during the last quarter. Briaud Financial Planning Inc bought a new position in shares of Manhattan Bridge Capital in the third quarter worth approximately $136,000. Finally, Rothschild Wealth LLC bought a new position in shares of Manhattan Bridge Capital in the fourth quarter worth approximately $118,000. 21.84% of the stock is currently owned by institutional investors.

About Manhattan Bridge Capital

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.