Manhattan Bridge Capital (NASDAQ:LOAN) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Analyst Upgrades and Downgrades

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

Manhattan Bridge Capital Price Performance

The company’s 50-day moving average price is $4.37 and its 200-day moving average price is $4.49. The company has a market cap of $49.26 million, a P/E ratio of 9.80 and a beta of 0.17.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Thursday, April 16th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 8th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.44 dividend on an annualized basis and a yield of 10.2%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 100.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LOAN. Osaic Holdings Inc. grew its position in Manhattan Bridge Capital by 140.7% in the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 3,292 shares in the last quarter. Vanguard Group Inc. grew its position in Manhattan Bridge Capital by 2.5% in the third quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock valued at $2,116,000 after purchasing an additional 9,330 shares in the last quarter. Melia Wealth LLC grew its position in Manhattan Bridge Capital by 15.3% in the third quarter. Melia Wealth LLC now owns 436,465 shares of the credit services provider’s stock valued at $2,394,000 after purchasing an additional 57,932 shares in the last quarter. RW Investment Management LLC bought a new position in Manhattan Bridge Capital in the third quarter valued at $71,000. Finally, Citadel Advisors LLC bought a new position in Manhattan Bridge Capital in the third quarter valued at $149,000. 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.