Manhattan Bridge Capital (NASDAQ:LOAN) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.33 and traded as high as $5.53. Manhattan Bridge Capital shares last traded at $5.53, with a volume of 17,939 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Manhattan Bridge Capital in a research report on Wednesday. They issued a “strong-buy” rating for the company.

Manhattan Bridge Capital Stock Up 3.0 %

The company has a market capitalization of $63.26 million, a P/E ratio of 11.29 and a beta of 0.57. The business’s 50-day moving average is $5.43 and its two-hundred day moving average is $5.33.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The firm had revenue of $2.31 million during the quarter.

Manhattan Bridge Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.115 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.46 annualized dividend and a yield of 8.32%. Manhattan Bridge Capital’s dividend payout ratio is currently 93.88%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. raised its holdings in shares of Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after purchasing an additional 6,117 shares during the period. Waddell & Associates LLC increased its position in Manhattan Bridge Capital by 3.9% in the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after buying an additional 2,861 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after buying an additional 3,008 shares during the period. Beese Fulmer Investment Management Inc. lifted its position in shares of Manhattan Bridge Capital by 53.4% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock valued at $724,000 after buying an additional 45,222 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Manhattan Bridge Capital by 441.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after acquiring an additional 119,595 shares during the period. 21.84% of the stock is owned by hedge funds and other institutional investors.

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.