Manhattan Bridge Capital (NASDAQ:LOAN) CEO Assaf Ran Purchases 8,000 Shares

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) CEO Assaf Ran purchased 8,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of $3.99 per share, with a total value of $31,920.00. Following the transaction, the chief executive officer owned 1,235,000 shares in the company, valued at $4,927,650. This trade represents a 0.65% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock opened at $4.17 on Wednesday. The business’s 50-day simple moving average is $4.32 and its two-hundred day simple moving average is $4.39. The company has a market cap of $47.66 million, a PE ratio of 9.93 and a beta of 0.14. Manhattan Bridge Capital, Inc has a fifty-two week low of $3.90 and a fifty-two week high of $5.80.

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

Manhattan Bridge Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 8th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 10.6%. The ex-dividend date is Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio is 104.76%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its holdings in shares of Manhattan Bridge Capital by 140.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after buying an additional 3,292 shares during the period. Bridgeway Capital Management LLC grew its holdings 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 acquiring an additional 4,300 shares during the period. Rothschild Wealth LLC acquired a new stake in Manhattan Bridge Capital during the fourth quarter worth about $118,000. Kestra Advisory Services LLC raised 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 valued at $120,000 after acquiring an additional 12,553 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Manhattan Bridge Capital by 8.8% during the fourth quarter. International Assets Investment Management LLC now owns 29,595 shares of the credit services provider’s stock valued at $138,000 after acquiring an additional 2,384 shares in the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

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.