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

Shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.11 and traded as low as $4.57. Manhattan Bridge Capital shares last traded at $4.58, with a volume of 16,786 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Manhattan Bridge Capital in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Manhattan Bridge Capital Trading Up 0.4%

The firm’s fifty day moving average is $4.68 and its 200 day moving average is $5.11. The stock has a market cap of $52.40 million, a P/E ratio of 9.96 and a beta of 0.25.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings results on Friday, October 24th. The credit services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). Manhattan Bridge Capital had a return on equity of 12.22% and a net margin of 58.67%.The business had revenue of $2.04 million during the quarter.

Manhattan Bridge Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.46 dividend on an annualized basis and a yield of 10.0%. Manhattan Bridge Capital’s payout ratio is 100.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Atria Wealth Solutions Inc. raised its stake in shares of Manhattan Bridge Capital by 57.2% in the second quarter. Atria Wealth Solutions Inc. now owns 39,871 shares of the credit services provider’s stock valued at $218,000 after purchasing an additional 14,513 shares in the last quarter. Melia Wealth LLC increased its position in shares of Manhattan Bridge Capital by 4.9% during the 2nd quarter. Melia Wealth LLC now owns 378,533 shares of the credit services provider’s stock worth $2,071,000 after purchasing an additional 17,615 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital during the second quarter worth approximately $112,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Bridge Capital in the second quarter valued at approximately $149,000. Finally, Fortress Financial Solutions LLC raised its position in Manhattan Bridge Capital by 3.9% in the 2nd quarter. Fortress Financial Solutions LLC now owns 120,282 shares of the credit services provider’s stock valued at $658,000 after purchasing an additional 4,522 shares during the last quarter. 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.