Manhattan Bridge Capital (NASDAQ:LOAN) Announces Earnings Results

Manhattan Bridge Capital (NASDAQ:LOAN) issued its quarterly earnings results on Thursday. The credit services provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01), Zacks reports. Manhattan Bridge Capital had a return on equity of 11.81% and a net margin of 58.97%.

Manhattan Bridge Capital Trading Up 0.6%

LOAN opened at $4.65 on Thursday. The company has a market cap of $53.15 million, a price-to-earnings ratio of 10.25 and a beta of 0.21. The stock has a fifty day simple moving average of $4.43 and a two-hundred day simple moving average of $4.71. Manhattan Bridge Capital has a 12-month low of $4.13 and a 12-month high of $5.85.

Manhattan Bridge Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 8th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend is Wednesday, July 8th. Manhattan Bridge Capital’s dividend payout ratio is presently 97.78%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Manhattan Bridge Capital by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 112,087 shares of the credit services provider’s stock valued at $521,000 after acquiring an additional 3,046 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Manhattan Bridge Capital by 140.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 3,292 shares during the last quarter. Bridgeway Capital Management LLC increased its position in Manhattan Bridge Capital by 28.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock worth $91,000 after buying an additional 4,300 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Manhattan Bridge Capital by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock valued at $845,000 after buying an additional 7,900 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Manhattan Bridge Capital by 2.5% during the third quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock valued at $2,116,000 after purchasing an additional 9,330 shares in the last quarter. 21.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Manhattan Bridge Capital in a research note on Friday, April 10th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

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.