Manhattan Bridge Capital (NASDAQ:LOAN) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.94 and traded as low as $4.40. Manhattan Bridge Capital shares last traded at $4.42, with a volume of 9,400 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Manhattan Bridge Capital in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Manhattan Bridge Capital Stock Down 0.2%

The company’s 50-day moving average is $4.59 and its two-hundred day moving average is $4.94. The company has a market capitalization of $50.56 million, a P/E ratio of 9.61 and a beta of 0.25.

Manhattan Bridge Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend is Wednesday, April 8th. Manhattan Bridge Capital’s payout ratio is currently 100.00%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of large investors have recently added to or reduced their stakes in LOAN. Melia Wealth LLC boosted 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 worth $2,082,000 after purchasing an additional 11,173 shares in the last quarter. Vanguard Group Inc. grew its position in Manhattan Bridge Capital by 2.5% during the third 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 during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Manhattan Bridge Capital by 28.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after acquiring an additional 81,220 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its holdings in shares of Manhattan Bridge Capital by 200.9% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock worth $1,597,000 after buying an additional 229,244 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Manhattan Bridge Capital by 4.5% in the 4th quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock valued at $845,000 after acquiring an additional 7,900 shares during the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

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.