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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Manhattan Bridge Capital Trading Up 1.2%

The firm has a market cap of $48.35 million, a P/E ratio of 9.61 and a beta of 0.18. The business has a 50-day moving average price of $4.38 and a 200-day moving average price of $4.52.

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

Manhattan Bridge Capital Dividend Announcement

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

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of hedge funds and other institutional investors have recently modified their holdings of LOAN. Osaic Holdings Inc. increased its holdings in 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 buying an additional 3,292 shares during the period. Vanguard Group Inc. boosted its position in Manhattan Bridge Capital by 2.5% during the 3rd 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 in the last quarter. Melia Wealth LLC boosted 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 valued at $2,394,000 after acquiring an additional 57,932 shares in the last quarter. RW Investment Management LLC purchased a new position in shares of Manhattan Bridge Capital in the 3rd quarter valued at $71,000. Finally, Citadel Advisors LLC purchased a new position in shares of Manhattan Bridge Capital in the 3rd quarter valued at $149,000. 21.84% of the stock is currently owned by institutional investors.

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.