Manhattan Bridge Capital (NASDAQ:LOAN) Issues Earnings Results

Manhattan Bridge Capital (NASDAQ:LOAN) announced its earnings results on Thursday. The credit services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01), Zacks reports. Manhattan Bridge Capital had a return on equity of 11.81% and a net margin of 58.97%.

Manhattan Bridge Capital Stock Performance

Shares of LOAN stock opened at $4.62 on Thursday. Manhattan Bridge Capital has a fifty-two week low of $4.13 and a fifty-two week high of $5.85. The firm has a market capitalization of $52.81 million, a price-to-earnings ratio of 10.27 and a beta of 0.21. The stock’s 50-day simple moving average is $4.43 and its 200-day simple moving average is $4.71.

Manhattan Bridge Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 8th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend is Wednesday, July 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 97.78%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV raised its holdings in shares of Manhattan Bridge Capital by 28.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after buying an additional 81,220 shares during the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of Manhattan Bridge Capital during the fourth quarter valued at $161,000. Citadel Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the 3rd quarter valued at $149,000. Rothschild Wealth LLC purchased a new position in Manhattan Bridge Capital in the 4th quarter worth $118,000. Finally, Moneta Group Investment Advisors LLC raised its stake in Manhattan Bridge Capital by 72.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 31,310 shares of the credit services provider’s stock worth $146,000 after acquiring an additional 13,139 shares during the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

Analysts Set New Price Targets

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

About Manhattan Bridge Capital

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.