Key Points
- CEO Assaf Ran purchased 10,000 shares of Manhattan Bridge Capital at an average price of $3.47, investing $34,700 and increasing his direct ownership to 1.245 million shares.
- The company reported quarterly EPS of $0.11, in line with analyst expectations, but disclosed no revenue for the quarter versus forecasts of $2.05 million.
- Manhattan Bridge Capital reduced its quarterly dividend to $0.105 per share, implying a 12% annualized yield, while analysts maintain a consensus “Reduce” rating on the stock.
Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) CEO Assaf Ran bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, October 22nd. The stock was purchased at an average price of $3.47 per share, with a total value of $34,700.00. Following the transaction, the chief executive officer directly owned 1,245,000 shares in the company, valued at $4,320,150. The trade was a 0.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Assaf Ran also recently made the following trade(s):
- On Tuesday, July 28th, Assaf Ran purchased 8,000 shares of Manhattan Bridge Capital stock. The shares were acquired at an average cost of $3.99 per share, for a total transaction of $31,920.00.
Manhattan Bridge Capital Stock Performance
LOAN stock opened at $3.49 on Friday. The company has a market capitalization of $39.89 million, a PE ratio of 8.31 and a beta of 0.20. Manhattan Bridge Capital, Inc has a one year low of $3.31 and a one year high of $5.27. The company's 50 day moving average price is $3.86 and its two-hundred day moving average price is $4.16.
Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. Manhattan Bridge Capital had a net margin of 58.61% and a return on equity of 11.12%. The company had revenue of $0.00 million during the quarter, compared to analysts' expectations of $2.05 million. On average, research analysts predict that Manhattan Bridge Capital, Inc will post 0.42 EPS for the current year.
Manhattan Bridge Capital Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.1050 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 12.0%. This is a decrease from Manhattan Bridge Capital's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, December 31st. Manhattan Bridge Capital's payout ratio is 104.76%.
Institutional Investors Weigh In On Manhattan Bridge Capital
Several institutional investors and hedge funds have recently bought and sold shares of LOAN. Melia Wealth LLC bought a new stake in shares of Manhattan Bridge Capital in the 2nd quarter worth approximately $1,974,000. Frazier Financial Advisors LLC purchased a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $970,000. BlackRock Inc. purchased a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $198,000. RW Investment Management LLC bought a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $59,000. Finally, Eclectic Associates Inc. ADV bought a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $190,000. Hedge funds and other institutional investors own 21.84% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on LOAN. Zacks Research raised Manhattan Bridge Capital to a "hold" rating in a research note on Monday, October 5th. Weiss Ratings downgraded Manhattan Bridge Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".
Get Our Latest Research Report on Manhattan Bridge Capital
Manhattan Bridge Capital Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
