Assaf Ran Acquires 8,000 Shares of Manhattan Bridge Capital (NASDAQ:LOAN) Stock

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) CEO Assaf Ran acquired 8,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average cost of $3.99 per share, for a total transaction of $31,920.00. Following the transaction, the chief executive officer owned 1,235,000 shares in the company, valued at approximately $4,927,650. The trade was a 0.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Manhattan Bridge Capital Stock Up 0.7%

NASDAQ:LOAN opened at $4.20 on Thursday. Manhattan Bridge Capital, Inc has a 52 week low of $3.90 and a 52 week high of $5.80. The firm has a 50 day moving average of $4.32 and a 200 day moving average of $4.39. The stock has a market capitalization of $48.01 million, a price-to-earnings ratio of 10.00 and a beta of 0.14.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $2.04 million.

Manhattan Bridge Capital Dividend Announcement

The firm 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 $0.11 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.5%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 104.76%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. lifted its holdings in shares of Manhattan Bridge Capital by 140.7% during the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 3,292 shares during the period. Bridgeway Capital Management LLC increased its holdings in Manhattan Bridge Capital by 28.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock worth $91,000 after buying an additional 4,300 shares during the period. Rothschild Wealth LLC acquired a new position in Manhattan Bridge Capital in the 4th quarter worth approximately $118,000. Kestra Advisory Services LLC raised its position in Manhattan Bridge Capital by 94.2% during the 4th quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider’s stock worth $120,000 after buying an additional 12,553 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Manhattan Bridge Capital by 8.8% during the 4th quarter. International Assets Investment Management LLC now owns 29,595 shares of the credit services provider’s stock worth $138,000 after buying an additional 2,384 shares during the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average 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.