Manhattan Bridge Capital (NASDAQ:LOAN) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

Manhattan Bridge Capital, Inc (NASDAQ:LOAN)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.22 and traded as low as $4.85. Manhattan Bridge Capital shares last traded at $4.85, with a volume of 14,656 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Manhattan Bridge Capital in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Manhattan Bridge Capital has a consensus rating of “Hold”.

Manhattan Bridge Capital Price Performance

The stock has a market cap of $56.86 million, a price-to-earnings ratio of 10.80 and a beta of 0.27. The stock’s 50 day simple moving average is $4.88 and its two-hundred day simple moving average is $5.22.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings data on Friday, October 24th. The credit services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter.

Manhattan Bridge Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Manhattan Bridge Capital’s payout ratio is presently 100.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its stake in Manhattan Bridge Capital by 140.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after buying an additional 3,292 shares in the last quarter. RW Investment Management LLC bought a new position in shares of Manhattan Bridge Capital during the third quarter valued at $71,000. Frazier Financial Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital in the 2nd quarter valued at $112,000. Briaud Financial Planning Inc acquired a new stake in shares of Manhattan Bridge Capital in the 3rd quarter valued at $136,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Manhattan Bridge Capital in the 2nd quarter worth about $149,000. 21.84% of the stock is owned by institutional investors and hedge funds.

Manhattan Bridge Capital Company Profile

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.