Bard Associates Inc. Sells 157,342 Shares of Manhattan Bridge Capital, Inc $LOAN

Bard Associates Inc. reduced its stake in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) by 44.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 199,429 shares of the credit services provider’s stock after selling 157,342 shares during the period. Bard Associates Inc.’s holdings in Manhattan Bridge Capital were worth $1,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. RW Investment Management LLC acquired a new stake in shares of Manhattan Bridge Capital during the third quarter worth $71,000. Melia Wealth LLC increased its holdings in Manhattan Bridge Capital by 15.3% during the 3rd quarter. Melia Wealth LLC now owns 436,465 shares of the credit services provider’s stock worth $2,394,000 after purchasing an additional 57,932 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Manhattan Bridge Capital by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock valued at $2,116,000 after purchasing an additional 9,330 shares during the period. Frazier Financial Advisors LLC lifted its holdings in shares of Manhattan Bridge Capital by 42.1% in the third quarter. Frazier Financial Advisors LLC now owns 29,126 shares of the credit services provider’s stock valued at $160,000 after purchasing an additional 8,626 shares in the last quarter. Finally, Fortress Financial Solutions LLC lifted its holdings in shares of Manhattan Bridge Capital by 26.7% in the third quarter. Fortress Financial Solutions LLC now owns 152,430 shares of the credit services provider’s stock valued at $837,000 after purchasing an additional 32,148 shares in the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Stock Up 0.5%

LOAN stock opened at $4.34 on Friday. The company has a market cap of $49.65 million, a price-to-earnings ratio of 9.43 and a beta of 0.25. Manhattan Bridge Capital, Inc has a twelve month low of $4.24 and a twelve month high of $6.05. The business has a 50 day moving average price of $4.48 and a two-hundred day moving average price of $4.85.

Manhattan Bridge Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 8th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.44 annualized dividend and a dividend yield of 10.1%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Manhattan Bridge Capital in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Manhattan Bridge Capital 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.