Manhattan Bridge Capital (NASDAQ:LOAN) Posts Earnings Results

Manhattan Bridge Capital (NASDAQ:LOAN) issued its quarterly earnings results on Friday. The credit services provider reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10, FiscalAI reports. Manhattan Bridge Capital had a return on equity of 12.22% and a net margin of 58.67%.The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $2.11 million.

Manhattan Bridge Capital Stock Up 2.3%

LOAN traded up $0.10 during trading on Friday, hitting $4.45. The company’s stock had a trading volume of 14,213 shares, compared to its average volume of 24,448. The firm has a market capitalization of $50.91 million, a P/E ratio of 9.67 and a beta of 0.25. Manhattan Bridge Capital has a twelve month low of $4.13 and a twelve month high of $6.05. The stock’s fifty day moving average price is $4.43 and its 200-day moving average price is $4.79.

Manhattan Bridge Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 8th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.44 annualized dividend and a yield of 9.9%. Manhattan Bridge Capital’s payout ratio is 100.00%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Bridge Capital in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Manhattan Bridge Capital currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 9,330 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Manhattan Bridge Capital by 28.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after buying an additional 81,220 shares during the last quarter. Renaissance Technologies LLC raised its position in Manhattan Bridge Capital by 4.5% in 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 during the last quarter. 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 in the last quarter. Finally, Gen Wealth Partners Inc purchased a new position in Manhattan Bridge Capital during the 4th quarter worth $161,000. Institutional investors 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.