ValuEngine lowered shares of Manhattan Bridge Capital (NASDAQ:LOAN) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Separately, Maxim Group restated a buy rating and set a $8.00 price target on shares of Manhattan Bridge Capital in a report on Friday, August 3rd.

Manhattan Bridge Capital stock opened at $6.30 on Wednesday. The firm has a market cap of $61.10 million, a PE ratio of 13.91 and a beta of 0.57. Manhattan Bridge Capital has a 1-year low of $5.50 and a 1-year high of $8.00.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Friday, July 27th. The credit services provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The business had revenue of $1.67 million for the quarter. Manhattan Bridge Capital had a net margin of 57.31% and a return on equity of 16.28%.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Wednesday, October 10th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 7.62%.

In other Manhattan Bridge Capital news, insider Assaf Ran purchased 5,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were acquired at an average price of $6.74 per share, for a total transaction of $33,700.00. Following the acquisition, the insider now owns 2,526,000 shares of the company’s stock, valued at $17,025,240. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.40% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. James Investment Research Inc. bought a new position in Manhattan Bridge Capital in the 2nd quarter worth $103,000. Deutsche Bank AG raised its holdings in Manhattan Bridge Capital by 59.0% in the 4th quarter. Deutsche Bank AG now owns 36,553 shares of the credit services provider’s stock worth $217,000 after acquiring an additional 13,559 shares during the period. Granite Investment Partners LLC bought a new position in Manhattan Bridge Capital in the 2nd quarter worth $342,000. Capital Planning Advisors LLC bought a new position in Manhattan Bridge Capital in the 2nd quarter worth $193,000. Finally, Moneta Group Investment Advisors LLC raised its holdings in Manhattan Bridge Capital by 12.0% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 204,085 shares of the credit services provider’s stock worth $204,000 after acquiring an additional 21,834 shares during the period. Institutional investors and hedge funds own 38.97% 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. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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