Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued to investors on Monday morning. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Up 3.2 %

Shares of Manhattan Bridge Capital stock opened at $5.77 on Monday. The stock has a market cap of $66.01 million, a PE ratio of 11.78 and a beta of 0.55. Manhattan Bridge Capital has a 12 month low of $4.60 and a 12 month high of $5.90. The business has a fifty day simple moving average of $5.56 and a 200-day simple moving average of $5.41.

Manhattan Bridge Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.115 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 7.97%. Manhattan Bridge Capital’s payout ratio is 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hardy Reed LLC lifted its position in shares of Manhattan Bridge Capital by 7.8% in the 4th quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock worth $2,075,000 after acquiring an additional 26,733 shares during the period. Atria Wealth Solutions Inc. lifted its stake in Manhattan Bridge Capital by 13.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock worth $159,000 after purchasing an additional 3,324 shares during the period. Fortress Financial Solutions LLC acquired a new stake in Manhattan Bridge Capital during the fourth quarter valued at approximately $685,000. Capital Management Associates Inc bought a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $184,000. Finally, Beese Fulmer Investment Management Inc. raised its holdings in shares of Manhattan Bridge Capital by 9.7% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 142,597 shares of the credit services provider’s stock worth $799,000 after buying an additional 12,616 shares in the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.