Manhattan Bridge Capital (NASDAQ:LOAN) Stock Passes Above 50-Day Moving Average - Here's Why

Shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) crossed 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 trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen assumed coverage on Manhattan Bridge Capital in a research note on Sunday, May 18th. They set a "strong-buy" rating on the stock.

Manhattan Bridge Capital Trading Down 1.5%

The firm has a 50 day moving average of $5.24 and a 200-day moving average of $5.43. The company has a market cap of $61.32 million, a P/E ratio of 11.40 and a beta of 0.30.

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

Manhattan Bridge Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 8.58%. The ex-dividend date of this dividend is Tuesday, July 8th. Manhattan Bridge Capital's payout ratio is 97.87%.

Institutional Trading of Manhattan Bridge Capital

A number of large investors have recently added to or reduced their stakes in LOAN. LPL Financial LLC bought a new stake in Manhattan Bridge Capital in the 4th quarter worth approximately $169,000. Advisory Services Network LLC bought a new stake in Manhattan Bridge Capital in the 4th quarter worth approximately $97,000. Melia Wealth LLC increased its stake in Manhattan Bridge Capital by 3.0% in the 4th quarter. Melia Wealth LLC now owns 351,140 shares of the credit services provider's stock worth $1,966,000 after acquiring an additional 10,301 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Manhattan Bridge Capital by 28.4% during the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider's stock valued at $157,000 after purchasing an additional 6,215 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at approximately $1,684,000. Institutional investors own 21.84% of the company's stock.

Manhattan Bridge Capital Company Profile

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.