Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note released on Tuesday morning. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

Manhattan Bridge Capital stock opened at $5.62 on Tuesday. The business has a 50 day simple moving average of $5.58 and a 200-day simple moving average of $5.43. The stock has a market capitalization of $64.29 million, a PE ratio of 11.47 and a beta of 0.55. Manhattan Bridge Capital has a 12 month low of $4.60 and a 12 month high of $5.90.

Manhattan Bridge Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 8.19%. The ex-dividend date of this dividend is Tuesday, April 8th. Manhattan Bridge Capital’s payout ratio is 93.88%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Soltis Investment Advisors LLC purchased a new position in Manhattan Bridge Capital in the third quarter worth $14,758,000. Hardy Reed LLC raised its position in Manhattan Bridge Capital by 7.8% in the fourth quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock worth $2,075,000 after acquiring an additional 26,733 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Manhattan Bridge Capital by 441.5% in the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after purchasing an additional 119,595 shares during the last quarter. Beese Fulmer Investment Management Inc. grew its holdings in Manhattan Bridge Capital by 9.7% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 142,597 shares of the credit services provider’s stock valued at $799,000 after purchasing an additional 12,616 shares during the last quarter. Finally, Fortress Financial Solutions LLC acquired a new stake in Manhattan Bridge Capital in the fourth quarter valued at $685,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

About Manhattan Bridge Capital

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.