Manhattan Bridge Capital (NASDAQ:LOAN) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of 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 $4.52 and traded as low as $4.18. Manhattan Bridge Capital shares last traded at $4.23, with a volume of 12,122 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Manhattan Bridge Capital currently has a consensus rating of “Hold”.

Manhattan Bridge Capital Price Performance

The company’s fifty day simple moving average is $4.38 and its 200-day simple moving average is $4.52. The firm has a market capitalization of $48.35 million, a PE ratio of 9.61 and a beta of 0.18.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Thursday, April 16th. The credit services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $2.07 million for the quarter, compared to analysts’ expectations of $2.18 million. Manhattan Bridge Capital had a net margin of 59.24% and a return on equity of 11.59%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 8th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, July 8th. This represents a $0.44 dividend on an annualized basis and a yield of 10.4%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 100.00%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of large investors have recently modified their holdings of the business. Osaic Holdings Inc. increased its holdings in shares of Manhattan Bridge Capital by 140.7% during the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 3,292 shares in the last quarter. Vanguard Group Inc. boosted its stake in Manhattan Bridge Capital by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock worth $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% during the 3rd quarter. Melia Wealth LLC now owns 436,465 shares of the credit services provider’s stock worth $2,394,000 after purchasing an additional 57,932 shares during the last quarter. RW Investment Management LLC purchased a new stake in Manhattan Bridge Capital during the 3rd quarter worth approximately $71,000. Finally, Citadel Advisors LLC acquired a new position in Manhattan Bridge Capital during the 3rd quarter valued at approximately $149,000. 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.