Manhattan Bridge Capital (NASDAQ:LOAN) CEO Assaf Ran Buys 10,000 Shares of Company Stock

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) CEO Assaf Ran purchased 10,000 shares of the company’s stock in a transaction on Thursday, October 22nd. The stock was acquired at an average cost of $3.47 per share, for a total transaction of $34,700.00. Following the completion of the purchase, the chief executive officer owned 1,245,000 shares of the company’s stock, valued at approximately $4,320,150. This trade represents a 0.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Assaf Ran also recently made the following trade(s):

• On Tuesday, July 28th, Assaf Ran bought 8,000 shares of Manhattan Bridge Capital stock. The stock was purchased at an average price of $3.99 per share, with a total value of $31,920.00.

Manhattan Bridge Capital Stock Up 2.9%

Shares of LOAN opened at $3.49 on Friday. The stock has a market cap of $39.89 million, a P/E ratio of 8.31 and a beta of 0.20. The business’s fifty day moving average is $3.86 and its 200 day moving average is $4.16. Manhattan Bridge Capital, Inc has a 12-month low of $3.31 and a 12-month high of $5.27.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings data on Wednesday, October 21st. The credit services provider reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $0.00 million for the quarter, compared to analyst estimates of $2.05 million. Manhattan Bridge Capital had a net margin of 58.61% and a return on equity of 11.12%. On average, analysts expect that Manhattan Bridge Capital, Inc will post 0.42 EPS for the current year.

Manhattan Bridge Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a dividend of $0.1050 per share. This represents a $0.42 annualized dividend and a yield of 12.0%. This is a decrease from Manhattan Bridge Capital’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, December 31st. Manhattan Bridge Capital’s dividend payout ratio is currently 104.76%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LOAN shares. Weiss Ratings lowered shares of Manhattan Bridge Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Zacks Research upgraded shares of Manhattan Bridge Capital to a “hold” rating in a research note on Monday, October 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Manhattan Bridge Capital presently has an average rating of “Reduce”.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several institutional investors have recently added to or reduced their stakes in LOAN. Melia Wealth LLC bought a new stake in shares of Manhattan Bridge Capital in the second quarter valued at approximately $1,974,000. Frazier Financial Advisors LLC purchased a new position in shares of Manhattan Bridge Capital during the 2nd quarter valued at $970,000. Renaissance Technologies LLC grew its position 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 buying an additional 14,290 shares in the last quarter. BlackRock Inc. purchased a new stake in Manhattan Bridge Capital in the second quarter valued at approximately $198,000. Finally, Eclectic Associates Inc. ADV purchased a new position in Manhattan Bridge Capital in the 2nd quarter worth approximately $190,000. 21.84% of the stock is owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, first-mortgage loans. Its loans are generally secured by residential real estate and are designed to provide financing for property acquisitions, renovations, development and other real estate-related purposes.

The company primarily serves real estate investors and developers seeking financing that may not be available through traditional lending channels. Its lending activities have historically been concentrated in the New York metropolitan area and other selected markets, with an emphasis on collateral-based underwriting and short-term loan structures.

Manhattan Bridge Capital was founded in 2003 and is headquartered in Great Neck, New York.