Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued to investors on Monday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Trading Up 3.2 %

Shares of NASDAQ:LOAN opened at $5.77 on Monday. The company has a 50 day moving average of $5.56 and a 200-day moving average of $5.41. The firm has a market cap of $66.01 million, a P/E ratio of 11.78 and a beta of 0.55. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90.

Manhattan Bridge Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.115 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 7.97%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Soltis Investment Advisors LLC bought a new stake in shares of Manhattan Bridge Capital in the 3rd quarter worth approximately $14,758,000. Hardy Reed LLC grew its position in Manhattan Bridge Capital by 7.8% in the fourth quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock worth $2,075,000 after buying an additional 26,733 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Manhattan Bridge Capital by 13.3% in the second 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 in the last quarter. International Assets Investment Management LLC lifted its position in shares of Manhattan Bridge Capital by 441.5% during 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 acquiring an additional 119,595 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its stake in shares of Manhattan Bridge Capital by 9.7% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 142,597 shares of the credit services provider’s stock worth $799,000 after acquiring an additional 12,616 shares in the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

Manhattan Bridge Capital Company Profile

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.