Manhattan Bridge Capital (NASDAQ:LOAN) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.48 and traded as low as $4.33. Manhattan Bridge Capital shares last traded at $4.43, with a volume of 25,295 shares traded.

Wall Street Analysts Forecast Growth

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

Manhattan Bridge Capital Price Performance

The stock’s fifty day simple moving average is $4.35 and its 200-day simple moving average is $4.48. The stock has a market cap of $50.63 million, a P/E ratio of 10.07 and a beta of 0.17.

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

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 8th will be issued 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 9.9%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 100.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of large investors have recently bought and sold shares of LOAN. Beese Fulmer Investment Management Inc. lifted its holdings in Manhattan Bridge Capital by 200.9% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock worth $1,597,000 after acquiring an additional 229,244 shares during the last quarter. Frazier Financial Advisors LLC lifted its holdings in Manhattan Bridge Capital by 156.0% in the first quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock worth $907,000 after acquiring an additional 124,229 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Manhattan Bridge Capital by 28.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after acquiring an additional 81,220 shares during the last quarter. Melia Wealth LLC lifted its holdings 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 worth $2,394,000 after acquiring an additional 57,932 shares during the last quarter. Finally, Apella Capital LLC bought a new position in Manhattan Bridge Capital in the fourth quarter worth about $192,000. Institutional investors own 21.84% of the company’s stock.

About Manhattan Bridge Capital

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.