Manhattan Bridge Capital (NASDAQ:LOAN) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

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 $4.38 and traded as low as $4.14. Manhattan Bridge Capital shares last traded at $4.20, with a volume of 28,146 shares.

Analyst Ratings Changes

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

Manhattan Bridge Capital Stock Performance

The stock has a market cap of $47.09 million, a P/E ratio of 9.81 and a beta of 0.16. The stock has a 50-day moving average price of $4.31 and a 200-day moving average price of $4.38.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share 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 company had revenue of $0.00 million during the quarter, compared to the consensus estimate of $2.04 million.

Manhattan Bridge Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 8th will be given a $0.11 dividend. The ex-dividend date is Thursday, October 8th. This represents a $0.44 annualized dividend and a yield of 10.7%. Manhattan Bridge Capital’s payout ratio is 104.76%.

Insiders Place Their Bets

In other news, CEO Assaf Ran purchased 8,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were acquired at an average price of $3.99 per share, for a total transaction of $31,920.00. Following the completion of the transaction, the chief executive officer directly owned 1,235,000 shares of the company’s stock, valued at approximately $4,927,650. This trade represents a 0.65% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 24.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Frazier Financial Advisors LLC boosted its stake in Manhattan Bridge Capital by 156.0% in the first quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock worth $907,000 after buying an additional 124,229 shares in the last quarter. Beese Fulmer Investment Management Inc. lifted its holdings in shares of Manhattan Bridge Capital by 200.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock worth $1,597,000 after acquiring an additional 229,244 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Manhattan Bridge Capital by 7.9% in the 1st quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock worth $872,000 after acquiring an additional 14,290 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Manhattan Bridge Capital by 28.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock valued at $91,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Rothschild Wealth LLC purchased a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at $118,000. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

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.