Manhattan Bridge Capital (LOAN) Hits New 52-Week High and Low at $7.69

Manhattan Bridge Capital (NASDAQ:LOAN) shares reached a new 52-week high and low during trading on Friday . The company traded as low as $7.69 and last traded at $7.60, with a volume of 300 shares trading hands. The stock had previously closed at $7.20.

Several brokerages have recently commented on LOAN. ValuEngine upgraded Manhattan Bridge Capital from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Maxim Group raised their target price on Manhattan Bridge Capital from $7.50 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, April 18th.

The stock has a market cap of $58.79 million, a P/E ratio of 16.48 and a beta of 0.60.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Monday, April 23rd. The credit services provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $1.66 million during the quarter. Manhattan Bridge Capital had a net margin of 58.02% and a return on equity of 15.86%.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Tuesday, July 10th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 6.32%. The ex-dividend date is Monday, July 9th.

A hedge fund recently raised its stake in Manhattan Bridge Capital stock. Renaissance Technologies LLC lifted its position in shares of Manhattan Bridge Capital (NASDAQ:LOAN) by 28.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 163,200 shares of the credit services provider’s stock after buying an additional 36,400 shares during the quarter. Renaissance Technologies LLC owned about 2.01% of Manhattan Bridge Capital worth $970,000 as of its most recent SEC filing. Institutional investors own 13.05% of the company’s stock.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.

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