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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.49 and traded as low as $4.26. Manhattan Bridge Capital shares last traded at $4.31, with a volume of 7,985 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Manhattan Bridge Capital from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Manhattan Bridge Capital Stock Performance

The stock has a fifty day simple moving average of $4.36 and a 200-day simple moving average of $4.49. The stock has a market cap of $48.92 million, a P/E ratio of 9.73 and a beta of 0.17.

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

Manhattan Bridge Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 8th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 10.3%. The ex-dividend date is Wednesday, July 8th. Manhattan Bridge Capital’s dividend payout ratio is 100.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Large investors have recently added to or reduced their stakes in the company. Melia Wealth LLC grew its holdings in shares of Manhattan Bridge Capital by 2.6% in the 4th quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock valued at $2,082,000 after acquiring an additional 11,173 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Manhattan Bridge Capital by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock valued at $2,116,000 after acquiring an additional 9,330 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Manhattan Bridge Capital by 28.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after acquiring an additional 81,220 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its holdings in shares of Manhattan Bridge Capital by 200.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock valued at $1,597,000 after acquiring an additional 229,244 shares in the last quarter. Finally, Frazier Financial Advisors LLC grew its holdings in shares of Manhattan Bridge Capital by 156.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock valued at $907,000 after acquiring an additional 124,229 shares in the last quarter. Institutional investors own 21.84% of the company’s stock.

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.