Insider Buying: Manhattan Bridge Capital (NASDAQ:LOAN) CEO Purchases $34,700.00 in Stock

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) CEO Assaf Ran bought 10,000 shares of the company’s stock in a transaction on Thursday, October 22nd. The stock was bought at an average cost of $3.47 per share, with a total value 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. The trade was a 0.81% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, July 28th, Assaf Ran acquired 8,000 shares of Manhattan Bridge Capital stock. The shares were purchased at an average cost of $3.99 per share, for a total transaction of $31,920.00.

Manhattan Bridge Capital Stock Down 0.3%

Manhattan Bridge Capital stock opened at $3.48 on Friday. The stock has a market cap of $39.50 million, a price-to-earnings ratio of 8.29 and a beta of 0.20. Manhattan Bridge Capital, Inc has a 12-month low of $3.31 and a 12-month high of $5.27. The business’s 50-day simple moving average is $3.84 and its 200 day simple moving average is $4.16.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Wednesday, October 21st. The credit services provider reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The business had revenue of $2.06 million during the quarter, compared to the consensus estimate of $2.05 million. Manhattan Bridge Capital had a net margin of 58.61% and a return on equity of 11.14%. As a group, sell-side 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. Stockholders of record on Thursday, December 31st will be paid a $0.1050 dividend. This is a drop from Manhattan Bridge Capital’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $0.42 dividend on an annualized basis and a dividend yield of 12.1%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 104.76%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors have recently added to or reduced their stakes in the company. Melia Wealth LLC bought a new stake in Manhattan Bridge Capital in the second quarter valued at approximately $1,974,000. Frazier Financial Advisors LLC acquired a new stake in Manhattan Bridge Capital during the second quarter worth approximately $970,000. BlackRock Inc. bought a new stake in shares of Manhattan Bridge Capital during the second quarter worth approximately $198,000. Eclectic Associates Inc. ADV bought a new stake in shares of Manhattan Bridge Capital during the second quarter worth approximately $190,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of 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 acquiring an additional 14,290 shares during the period. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Weiss Ratings cut Manhattan Bridge Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Zacks Research upgraded shares of Manhattan Bridge Capital to a “hold” rating in a report on Monday, October 5th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Manhattan Bridge Capital currently has an average rating of “Reduce”.

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.