Manhattan Bridge Capital (NASDAQ:LOAN) Stock Passes Above Fifty Day Moving Average - What's Next?

Key Points

• Technical: Manhattan Bridge Capital's stock passed above its 50-day moving average of $4.43 on Thursday (trading as high as $4.56 and last at $4.45), though it remains below the 200-day MA of $4.67.
• Dividend: The company declared a quarterly $0.11 dividend (annualized $0.44) implying a 9.9% yield; the ex-dividend date is July 8 and payment is scheduled for July 15, with a 100% payout ratio.
• Fundamentals & ratings: Q1 EPS of $0.11 missed estimates by $0.01 on $2.07M revenue, the stock has a market cap of about $50.9M and a consensus Hold rating, with ~21.8% institutional ownership.

Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report)'s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $4.43 and traded as high as $4.56. Manhattan Bridge Capital shares last traded at $4.45, with a volume of 29,094 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Manhattan Bridge Capital in a research report on Friday, April 10th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Manhattan Bridge Capital has a consensus rating of "Hold".

Manhattan Bridge Capital Price Performance

The company has a 50-day moving average price of $4.43 and a 200-day moving average price of $4.67. The firm has a market capitalization of $50.86 million, a PE ratio of 10.11 and a beta of 0.21.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). Manhattan Bridge Capital had a net margin of 59.24% and a return on equity of 11.59%. The company had revenue of $2.07 million during the quarter, compared to analysts' expectations of $2.18 million.

Manhattan Bridge Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 8th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 9.9%. The ex-dividend date is Wednesday, July 8th. Manhattan Bridge Capital's dividend payout ratio is currently 100.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several large investors have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC lifted its position in Manhattan Bridge Capital by 28.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider's stock worth $91,000 after buying an additional 4,300 shares during the period. Rothschild Wealth LLC purchased a new position in Manhattan Bridge Capital during the fourth quarter worth about $118,000. Kestra Advisory Services LLC lifted its position in Manhattan Bridge Capital by 94.2% during the fourth quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider's stock worth $120,000 after buying an additional 12,553 shares during the period. Gen Wealth Partners Inc purchased a new position in Manhattan Bridge Capital during the fourth quarter worth about $161,000. Finally, Renaissance Technologies LLC lifted its position in Manhattan Bridge Capital by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider's stock worth $845,000 after buying an additional 7,900 shares during the period. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc NASDAQ: LOAN is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients' growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.

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