Manhattan Bridge Capital (NASDAQ:LOAN) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.33 and traded as high as $5.53. Manhattan Bridge Capital shares last traded at $5.53, with a volume of 17,939 shares.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Manhattan Bridge Capital in a research note on Wednesday. They issued a “strong-buy” rating on the stock.

Manhattan Bridge Capital Stock Performance

The stock has a market capitalization of $64.86 million, a PE ratio of 11.57 and a beta of 0.57. The firm’s 50 day moving average is $5.43 and its two-hundred day moving average is $5.33.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The firm had revenue of $2.31 million for the quarter.

Manhattan Bridge Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 8.11%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 93.88%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several large investors have recently bought and sold shares of LOAN. Soltis Investment Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital during the 3rd quarter worth about $14,758,000. Geode Capital Management LLC boosted its stake in Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after acquiring an additional 3,008 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its holdings in shares of Manhattan Bridge Capital by 53.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares during the last quarter. International Assets Investment Management LLC grew its stake in 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 worth $817,000 after buying an additional 119,595 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after acquiring an additional 6,117 shares during the period. Hedge funds and other institutional investors own 21.84% of the company’s stock.

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.