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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.47 and traded as low as $4.39. Manhattan Bridge Capital shares last traded at $4.46, with a volume of 41,836 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Manhattan Bridge Capital currently has a consensus rating of “Hold”.

Manhattan Bridge Capital Stock Performance

The stock has a market cap of $50.98 million, a price-to-earnings ratio of 10.14 and a beta of 0.17. The firm’s 50-day simple moving average is $4.33 and its two-hundred day simple moving average is $4.47.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Thursday, April 16th. The credit services provider reported $0.11 earnings per share 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 company had revenue of $2.07 million during the quarter, compared to the consensus estimate of $2.18 million.

Manhattan Bridge Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 dividend yield of 9.9%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 100.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Melia Wealth LLC boosted its position in Manhattan Bridge Capital by 2.6% in the 4th quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock valued at $2,082,000 after buying an additional 11,173 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 valued at $2,116,000 after buying an additional 9,330 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Manhattan Bridge Capital by 28.8% during 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. Beese Fulmer Investment Management Inc. raised its position in shares of Manhattan Bridge Capital by 200.9% during 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. Finally, Frazier Financial Advisors LLC lifted its stake in shares of Manhattan Bridge Capital by 156.0% during the first quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock valued at $907,000 after acquiring an additional 124,229 shares during the period. Institutional investors and hedge funds 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.