Manhattan Bridge Capital (NASDAQ:LOAN) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.33 and traded as low as $4.00. Manhattan Bridge Capital shares last traded at $4.07, with a volume of 47,710 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Manhattan Bridge Capital has an average rating of “Hold”.

Manhattan Bridge Capital Stock Performance

The stock has a market capitalization of $46.52 million, a price-to-earnings ratio of 9.69 and a beta of 0.16. The stock’s 50 day moving average is $4.25 and its 200 day moving average is $4.33.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its 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 business had revenue of $0.00 million for the quarter, compared to analyst estimates of $2.04 million. Manhattan Bridge Capital had a return on equity of 11.02% and a net margin of 58.30%.

Manhattan Bridge Capital Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Assaf Ran purchased 8,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was bought at an average price of $3.99 per share, with a total value of $31,920.00. Following the completion of the transaction, the chief executive officer owned 1,235,000 shares of the company’s stock, valued at approximately $4,927,650. This represents a 0.65% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 24.60% of the company’s stock.

Institutional Trading of Manhattan Bridge Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Melia Wealth LLC purchased a new position in Manhattan Bridge Capital in the 2nd quarter valued at about $1,974,000. Beese Fulmer Investment Management Inc. raised its position in shares of Manhattan Bridge Capital by 200.9% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock valued at $1,597,000 after buying an additional 229,244 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $970,000. Mercer Global Advisors Inc. ADV boosted its position in Manhattan Bridge Capital by 28.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after acquiring an additional 81,220 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in Manhattan Bridge Capital in the 2nd quarter worth approximately $198,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

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.