Key Points
- CEO Assaf Ran purchased 8,000 shares of Manhattan Bridge Capital at an average price of $3.99, increasing his ownership by 0.65% to 1.235 million shares.
- The company reported quarterly EPS of $0.10, below the $0.11 analyst consensus, while shares opened at $4.17 and remain near their one-year low of $3.90.
- Manhattan Bridge Capital declared a quarterly dividend of $0.11 per share, implying an annualized yield of 10.6%, though its payout ratio is elevated at 104.76%; analysts maintain a “Hold” rating.
Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) CEO Assaf Ran bought 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased 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 owned 1,235,000 shares in the company, valued at approximately $4,927,650. This trade represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Manhattan Bridge Capital Stock Performance
Shares of NASDAQ LOAN opened at $4.17 on Wednesday. The company has a market capitalization of $47.66 million, a PE ratio of 9.93 and a beta of 0.14. The company's fifty day moving average price is $4.32 and its 200 day moving average price is $4.39. Manhattan Bridge Capital, Inc has a 1 year low of $3.90 and a 1 year high of $5.80.
Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $2.04 million.
Manhattan Bridge Capital Dividend Announcement
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 10.6%. Manhattan Bridge Capital's dividend payout ratio (DPR) is 104.76%.
Institutional Investors Weigh In On Manhattan Bridge Capital
Institutional investors have recently added to or reduced their stakes in the stock. Frazier Financial Advisors LLC increased its holdings in Manhattan Bridge Capital by 156.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider's stock worth $907,000 after acquiring an additional 124,229 shares in the last quarter. Beese Fulmer Investment Management Inc. lifted its holdings in Manhattan Bridge Capital by 200.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider's stock valued at $1,597,000 after purchasing an additional 229,244 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Manhattan Bridge Capital by 72.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 31,310 shares of the credit services provider's stock valued at $146,000 after purchasing an additional 13,139 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of 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 worth $120,000 after purchasing an additional 12,553 shares in the last quarter. Finally, Rothschild Wealth LLC purchased a new stake in shares of Manhattan Bridge Capital during the fourth quarter worth about $118,000. Institutional investors and hedge funds own 21.84% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut Manhattan Bridge Capital from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".
Get Our Latest Research Report on LOAN
Manhattan Bridge Capital Company Profile
(
Get Free Report)
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.
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