Manhattan Bridge Capital (NASDAQ:LOAN) Shares Cross Above 50 Day Moving Average - What's Next?

Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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.

Analyst Upgrades and Downgrades

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

Manhattan Bridge Capital Stock Down 0.6%

The firm has a market capitalization of $61.83 million, a price-to-earnings ratio of 11.50 and a beta of 0.30. The stock's 50 day moving average price is $5.24 and its two-hundred day moving average price is $5.43.

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

Manhattan Bridge Capital Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 8.51%. The ex-dividend date of this dividend is Tuesday, July 8th. Manhattan Bridge Capital's payout ratio is 97.87%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several hedge funds have recently bought and sold shares of the business. Hardy Reed LLC increased its position in Manhattan Bridge Capital by 4.3% during the first quarter. Hardy Reed LLC now owns 386,259 shares of the credit services provider's stock worth $2,283,000 after buying an additional 15,760 shares during the last quarter. Melia Wealth LLC increased its position in Manhattan Bridge Capital by 2.8% during the first quarter. Melia Wealth LLC now owns 360,918 shares of the credit services provider's stock worth $2,133,000 after buying an additional 9,778 shares during the last quarter. Cary Street Partners Financial LLC acquired a new position in Manhattan Bridge Capital during the fourth quarter worth $1,684,000. Avant Financial Advisors LLC acquired a new position in Manhattan Bridge Capital during the fourth quarter worth $1,626,000. Finally, OLIO Financial Planning increased its position in Manhattan Bridge Capital by 196.3% during the second quarter. OLIO Financial Planning now owns 72,798 shares of the credit services provider's stock worth $398,000 after buying an additional 48,230 shares during the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

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.