Manhattan Bridge Capital (NASDAQ:LOAN) Shares Cross Above 200-Day Moving Average – Time to Sell?

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.33 and traded as high as $5.53. Manhattan Bridge Capital shares last traded at $5.53, with a volume of 17,939 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Manhattan Bridge Capital in a research report on Wednesday. They set a “strong-buy” rating on the stock.

Manhattan Bridge Capital Price Performance

The stock’s fifty day moving average is $5.43 and its 200-day moving average is $5.33. The stock has a market capitalization of $64.86 million, a PE ratio of 11.57 and a beta of 0.57.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The company had revenue of $2.31 million for the quarter.

Manhattan Bridge Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 8.11%. The ex-dividend date of this dividend is Tuesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio is currently 93.88%.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOAN. Soltis Investment Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital in the 3rd quarter worth $14,758,000. International Assets Investment Management LLC boosted its holdings in Manhattan Bridge Capital by 441.5% in the 3rd 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. B. Riley Wealth Advisors Inc. grew its stake in shares of Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after buying an additional 6,117 shares during the period. Waddell & Associates LLC increased its holdings in shares of Manhattan Bridge Capital by 3.9% during the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after buying an additional 2,861 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Manhattan Bridge Capital by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after buying an additional 21,950 shares during the period. Institutional investors and hedge funds 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.