Manhattan Bridge Capital (NASDAQ:LOAN) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Manhattan Bridge Capital (NASDAQ:LOAN) to a hold rating in a research report sent to investors on Monday morning,Zacks reports.

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

Manhattan Bridge Capital Stock Performance

LOAN stock opened at $3.86 on Monday. Manhattan Bridge Capital has a one year low of $3.54 and a one year high of $5.80. The firm’s fifty day moving average is $4.03 and its 200 day moving average is $4.24. The firm has a market cap of $44.12 million, a PE ratio of 9.19 and a beta of 0.20.

Manhattan Bridge Capital (NASDAQ:LOAN) last released 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). Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%. The company had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.04 million. Research analysts predict that Manhattan Bridge Capital will post 0.42 earnings per share for the current fiscal year.

Manhattan Bridge Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 8th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 11.4%. The ex-dividend date of this dividend is Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio is currently 104.76%.

Insiders Place Their Bets

In other Manhattan Bridge Capital news, CEO Assaf Ran bought 8,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were acquired at an average cost 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. This trade represents a 0.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 24.60% of the stock is owned by company insiders.

Institutional Trading of Manhattan Bridge Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. RW Investment Management LLC acquired a new position in shares of Manhattan Bridge Capital during the second quarter worth $59,000. Renaissance Technologies LLC increased its holdings in shares of Manhattan Bridge Capital by 7.9% in the 1st quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock valued at $872,000 after acquiring an additional 14,290 shares during the last quarter. Eclectic Associates Inc. ADV purchased a new stake in Manhattan Bridge Capital during the second quarter worth approximately $190,000. BlackRock Inc. acquired a new position in Manhattan Bridge Capital in the second quarter valued at approximately $198,000. Finally, Frazier Financial Advisors LLC increased its stake in Manhattan Bridge Capital by 156.0% in the first quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock valued at $907,000 after purchasing an additional 124,229 shares during the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, first-mortgage loans. Its loans are generally secured by residential real estate and are designed to provide financing for property acquisitions, renovations, development and other real estate-related purposes.

The company primarily serves real estate investors and developers seeking financing that may not be available through traditional lending channels. Its lending activities have historically been concentrated in the New York metropolitan area and other selected markets, with an emphasis on collateral-based underwriting and short-term loan structures.

Manhattan Bridge Capital was founded in 2003 and is headquartered in Great Neck, New York.