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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.22 and traded as low as $4.85. Manhattan Bridge Capital shares last traded at $4.85, with a volume of 14,656 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Bridge Capital in a research report on Monday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Manhattan Bridge Capital has an average rating of “Hold”.

Manhattan Bridge Capital Trading Down 1.0%

The company has a market capitalization of $55.48 million, a P/E ratio of 10.54 and a beta of 0.27. The stock has a 50 day moving average price of $4.88 and a 200 day moving average price of $5.22.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Friday, October 24th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $2.04 million during the quarter. Manhattan Bridge Capital had a return on equity of 12.22% and a net margin of 58.67%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Wednesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 100.00%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of institutional investors have recently added to or reduced their stakes in LOAN. OLIO Financial Planning raised its stake in shares of Manhattan Bridge Capital by 196.3% during the second quarter. OLIO Financial Planning now owns 72,798 shares of the credit services provider’s stock valued at $398,000 after acquiring an additional 48,230 shares during the last quarter. Melia Wealth LLC increased its holdings in Manhattan Bridge Capital by 4.9% in the second quarter. Melia Wealth LLC now owns 378,533 shares of the credit services provider’s stock valued at $2,071,000 after purchasing an additional 17,615 shares during the period. Atria Wealth Solutions Inc. raised its position in Manhattan Bridge Capital by 57.2% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 39,871 shares of the credit services provider’s stock worth $218,000 after purchasing an additional 14,513 shares during the last quarter. Frazier Financial Advisors LLC bought a new position in Manhattan Bridge Capital during the 2nd quarter worth $112,000. Finally, International Assets Investment Management LLC acquired a new position in Manhattan Bridge Capital during the 2nd quarter worth about $149,000. 21.84% of the stock is owned by institutional investors.

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. 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.