Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by StockNews.com

StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report sent to investors on Sunday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

Shares of LOAN opened at $5.53 on Friday. The firm has a market cap of $63.26 million, a P/E ratio of 11.29 and a beta of 0.55. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90. The firm’s 50 day moving average price is $5.51 and its two-hundred day moving average price is $5.40.

Manhattan Bridge Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 8.32%. The ex-dividend date was Tuesday, December 31st. Manhattan Bridge Capital’s payout ratio is presently 93.88%.

Institutional Trading of Manhattan Bridge Capital

A number of institutional investors have recently modified their holdings of LOAN. Geode Capital Management LLC grew its holdings in shares of Manhattan Bridge Capital by 2.7% during the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after buying an additional 3,008 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Manhattan Bridge Capital by 35.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after acquiring an additional 6,117 shares in the last quarter. OLIO Financial Planning acquired a new stake in shares of Manhattan Bridge Capital in the fourth quarter valued at approximately $117,000. Renaissance Technologies LLC lifted its position in shares of Manhattan Bridge Capital by 13.3% in the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after purchasing an additional 21,950 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its holdings in 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. 21.84% of the stock is currently 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.