Manhattan Bridge Capital (NASDAQ:LOAN) Upgraded at Zacks Research

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

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

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock opened at $3.66 on Monday. Manhattan Bridge Capital has a one year low of $3.54 and a one year high of $5.66. The company has a 50-day simple moving average of $4.01 and a 200-day simple moving average of $4.24. The firm has a market capitalization of $41.83 million, a P/E ratio of 8.71 and a beta of 0.20.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $2.04 million. As a group, sell-side analysts forecast that Manhattan Bridge Capital will post 0.42 earnings per share for the current year.

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 given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 12.0%. The ex-dividend date is Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio is currently 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 shares were bought at an average cost of $3.99 per share, for a total transaction of $31,920.00. Following the transaction, the chief executive officer owned 1,235,000 shares of the company’s stock, valued at $4,927,650. This represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 24.60% of the company’s stock.

Institutional Trading of Manhattan Bridge Capital

A number of institutional investors have recently made changes to their positions in LOAN. Melia Wealth LLC acquired a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $1,974,000. Frazier Financial Advisors LLC acquired a new stake in Manhattan Bridge Capital in the second quarter worth approximately $970,000. BlackRock Inc. acquired a new stake in Manhattan Bridge Capital in the second quarter worth approximately $198,000. RW Investment Management LLC bought a new position in Manhattan Bridge Capital during the 2nd quarter valued at $59,000. Finally, Eclectic Associates Inc. ADV bought a new position in Manhattan Bridge Capital during the 2nd quarter valued at $190,000. 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.