Manhattan Bridge Capital (NASDAQ:LOAN) Shares Cross Above Fifty Day Moving Average - Should You Sell?

Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report)'s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.23 and traded as high as $5.65. Manhattan Bridge Capital shares last traded at $5.45, with a volume of 55,963 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on shares of Manhattan Bridge Capital in a research note on Sunday, May 18th. They issued a "strong-buy" rating for the company.

Manhattan Bridge Capital Stock Performance

The business's 50 day moving average is $5.24 and its 200 day moving average is $5.43. The company has a market capitalization of $61.55 million, a price-to-earnings ratio of 11.45 and a beta of 0.30.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 58.44% and a return on equity of 12.68%. The company had revenue of $2.27 million during the quarter.

Manhattan Bridge Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 8.55%. The ex-dividend date of this dividend is Tuesday, July 8th. Manhattan Bridge Capital's dividend payout ratio is presently 97.87%.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of institutional investors have recently bought and sold shares of the business. Gen Wealth Partners Inc increased its holdings in shares of Manhattan Bridge Capital by 5.1% during the 4th quarter. Gen Wealth Partners Inc now owns 38,740 shares of the credit services provider's stock valued at $217,000 after purchasing an additional 1,896 shares in the last quarter. OLIO Financial Planning increased its holdings in Manhattan Bridge Capital by 17.5% in the 1st quarter. OLIO Financial Planning now owns 24,568 shares of the credit services provider's stock worth $145,000 after acquiring an additional 3,665 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Manhattan Bridge Capital by 28.4% in the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider's stock worth $157,000 after acquiring an additional 6,215 shares in the last quarter. Melia Wealth LLC increased its holdings in Manhattan Bridge Capital by 2.8% in the 1st quarter. Melia Wealth LLC now owns 360,918 shares of the credit services provider's stock worth $2,133,000 after acquiring an additional 9,778 shares in the last quarter. Finally, Hardy Reed LLC increased its holdings in Manhattan Bridge Capital by 4.3% in the 1st quarter. Hardy Reed LLC now owns 386,259 shares of the credit services provider's stock worth $2,283,000 after acquiring an additional 15,760 shares in the last quarter. 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.