StockNews.com Begins Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOANFree Report) in a report issued on Friday. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

Shares of LOAN opened at $5.20 on Friday. Manhattan Bridge Capital has a 52 week low of $4.27 and a 52 week high of $5.29. The firm has a market cap of $59.49 million, a P/E ratio of 10.40 and a beta of 0.59. The firm’s 50-day simple moving average is $5.02 and its 200 day simple moving average is $4.84.

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.115 per share. The ex-dividend date is Wednesday, July 10th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.85%. Manhattan Bridge Capital’s payout ratio is presently 92.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LOAN. Waddell & Associates LLC boosted its position in shares of Manhattan Bridge Capital by 16.9% during the 3rd quarter. Waddell & Associates LLC now owns 102,772 shares of the credit services provider’s stock worth $493,000 after acquiring an additional 14,882 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Manhattan Bridge Capital by 23.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 51,061 shares of the credit services provider’s stock valued at $245,000 after purchasing an additional 9,553 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in Manhattan Bridge Capital by 11.7% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 111,183 shares of the credit services provider’s stock valued at $534,000 after purchasing an additional 11,680 shares during the last quarter. Soltis Investment Advisors LLC bought a new position in Manhattan Bridge Capital in the 3rd quarter valued at approximately $389,000. Finally, Hardy Reed LLC lifted its stake in Manhattan Bridge Capital by 871.6% in the 3rd quarter. Hardy Reed LLC now owns 332,296 shares of the credit services provider’s stock valued at $1,595,000 after purchasing an additional 298,096 shares during the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

(Get Free Report)

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.

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