Manhattan Bridge Capital (NASDAQ:LOAN) Shares Pass Below 200-Day Moving Average – Here’s Why

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.35 and traded as low as $4.07. Manhattan Bridge Capital shares last traded at $4.15, with a volume of 10,346 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Manhattan Bridge Capital Stock Down 1.0%

The stock’s 50 day moving average price is $4.29 and its 200-day moving average price is $4.35. The stock has a market capitalization of $46.06 million, a PE ratio of 9.60 and a beta of 0.16.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Manhattan Bridge Capital had a return on equity of 11.02% and a net margin of 58.30%.The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $2.04 million.

Manhattan Bridge Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 8th will be paid a $0.11 dividend. The ex-dividend date is Thursday, October 8th. This represents a $0.44 annualized dividend and a yield of 10.9%. Manhattan Bridge Capital’s payout ratio is presently 104.76%.

Insider Activity at Manhattan Bridge Capital

In other news, CEO Assaf Ran purchased 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was bought at an average cost of $3.99 per share, with a total value of $31,920.00. Following the completion of the purchase, the chief executive officer owned 1,235,000 shares in the company, valued at approximately $4,927,650. This represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 24.60% of the company’s stock.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors have recently bought and sold shares of the business. Melia Wealth LLC lifted its stake in shares of Manhattan Bridge Capital by 2.6% in the 4th quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock valued at $2,082,000 after purchasing an additional 11,173 shares during the last quarter. Vanguard Group Inc. increased 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 worth $2,116,000 after acquiring an additional 9,330 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Manhattan Bridge Capital by 28.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after acquiring an additional 81,220 shares in the last quarter. Beese Fulmer Investment Management Inc. lifted its holdings in Manhattan Bridge Capital by 200.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock worth $1,597,000 after buying an additional 229,244 shares during the period. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital during the second quarter valued at about $970,000. 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.