StockNews.com Begins Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report issued on Sunday morning. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

Shares of Manhattan Bridge Capital stock opened at $5.12 on Friday. Manhattan Bridge Capital has a 52-week low of $4.74 and a 52-week high of $6.05. The stock has a market capitalization of $58.57 million, a price-to-earnings ratio of 10.45 and a beta of 0.33. The company’s 50 day moving average price is $5.36 and its 200-day moving average price is $5.47.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Thursday, April 24th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The firm had revenue of $2.27 million for the quarter.

Manhattan Bridge Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 8.98%. The ex-dividend date is Tuesday, July 8th. Manhattan Bridge Capital’s dividend payout ratio is 97.87%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hardy Reed LLC lifted its position in Manhattan Bridge Capital by 4.3% during the first quarter. Hardy Reed LLC now owns 386,259 shares of the credit services provider’s stock valued at $2,283,000 after buying an additional 15,760 shares during the period. Melia Wealth LLC lifted its position in Manhattan Bridge Capital by 2.8% during the first quarter. Melia Wealth LLC now owns 360,918 shares of the credit services provider’s stock valued at $2,133,000 after buying an additional 9,778 shares during the period. Cary Street Partners Financial LLC purchased a new position in Manhattan Bridge Capital during the fourth quarter valued at $1,684,000. Avant Financial Advisors LLC purchased a new position in Manhattan Bridge Capital during the fourth quarter valued at $1,626,000. Finally, Beese Fulmer Investment Management Inc. lifted its position in Manhattan Bridge Capital by 9.7% during 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 buying an additional 12,616 shares during the period. 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.