Manhattan Bridge Capital (NASDAQ:LOAN) Share Price Passes Below 200 Day Moving Average - Should You Sell?

Key Points

• Manhattan Bridge Capital shares fell below their 200-day moving average, trading as low as $5.35, with a current stock price at $5.36.
• The company reported a quarterly earnings per share (EPS) of $0.12, matching the consensus estimate, along with a net margin of 59.04%.
• Manhattan Bridge Capital announced a quarterly dividend of $0.115 per share, representing an 8.6% yield, with the ex-dividend date set for October 8th.

Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.37 and traded as low as $5.35. Manhattan Bridge Capital shares last traded at $5.36, with a volume of 15,212 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen initiated 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 Stock Performance

The company has a market cap of $61.32 million, a price-to-earnings ratio of 11.40 and a beta of 0.35. The business has a 50-day simple moving average of $5.43 and a 200-day simple moving average of $5.37.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.12. The company had revenue of $2.36 million for the quarter. Manhattan Bridge Capital had a return on equity of 12.68% and a net margin of 59.04%.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend is Wednesday, October 8th. Manhattan Bridge Capital's dividend payout ratio (DPR) is 97.87%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. raised its position in shares of Manhattan Bridge Capital by 140.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider's stock worth $31,000 after acquiring an additional 3,292 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital during the 2nd quarter worth about $112,000. Kingsview Wealth Management LLC acquired a new stake in shares of Manhattan Bridge Capital during the 1st quarter worth about $121,000. OLIO Financial Planning raised its position in shares of Manhattan Bridge Capital by 17.5% during 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. Finally, International Assets Investment Management LLC acquired a new stake in shares of Manhattan Bridge Capital during the 2nd quarter worth about $149,000. Institutional investors and hedge funds 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.