Manhattan Bridge Capital (NASDAQ:LOAN) Stock Breaks Below 200 Day Moving Average – What’s Next?

Manhattan Bridge Capital, Inc (NASDAQ:LOAN)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.27 and traded as low as $3.88. Manhattan Bridge Capital shares last traded at $3.91, with a volume of 22,914 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. 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 Stock Down 0.4%

The stock has a 50 day moving average of $4.07 and a 200 day moving average of $4.27. The company has a market capitalization of $44.52 million, a price-to-earnings ratio of 9.27 and a beta of 0.15.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%. The firm had revenue of $0.00 million for the quarter, compared to analyst estimates of $2.04 million.

Manhattan Bridge Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, October 8th. This represents a $0.44 annualized dividend and a dividend yield of 11.3%. Manhattan Bridge Capital’s dividend payout ratio is 104.76%.

Insiders Place Their Bets

In other news, CEO Assaf Ran bought 8,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was acquired at an average price of $3.99 per share, with a total value of $31,920.00. Following the completion of the purchase, the chief executive officer directly owned 1,235,000 shares of the company’s stock, valued at approximately $4,927,650. This represents a 0.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 24.60% of the stock is owned by corporate insiders.

Institutional Trading of Manhattan Bridge Capital

Large investors have recently bought and sold shares of the business. RW Investment Management LLC bought a new position in shares of Manhattan Bridge Capital in the 2nd quarter worth about $59,000. Renaissance Technologies LLC grew its stake in Manhattan Bridge Capital by 7.9% during the first quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock worth $872,000 after purchasing an additional 14,290 shares during the period. Eclectic Associates Inc. ADV acquired a new stake in Manhattan Bridge Capital during the second quarter worth approximately $190,000. BlackRock Inc. bought a new stake in Manhattan Bridge Capital in the second quarter worth approximately $198,000. Finally, Frazier Financial Advisors LLC increased its holdings in Manhattan Bridge Capital by 156.0% in the first quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock worth $907,000 after purchasing an additional 124,229 shares in the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, secured loans. Its lending activities primarily involve first mortgage loans backed by residential, multifamily and commercial properties.

The company generally provides financing to real estate investors and developers, including borrowers who may not be served by traditional banks. Its loans are secured by the underlying property and are intended to support acquisitions, renovations, construction and other real estate-related activities.

Manhattan Bridge Capital has historically focused on properties in the New York metropolitan area, including New York City and surrounding markets.