Fortress Financial Solutions LLC Takes $685,000 Position in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Fortress Financial Solutions LLC purchased a new position in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 122,267 shares of the credit services provider’s stock, valued at approximately $685,000. Manhattan Bridge Capital accounts for about 1.0% of Fortress Financial Solutions LLC’s portfolio, making the stock its 24th largest position. Fortress Financial Solutions LLC owned approximately 1.07% of Manhattan Bridge Capital as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in LOAN. OLIO Financial Planning bought a new position in Manhattan Bridge Capital in the fourth quarter valued at about $117,000. Capital Management Associates Inc acquired a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $184,000. Geode Capital Management LLC grew its holdings in shares of Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after purchasing an additional 3,008 shares during the last quarter. Beese Fulmer Investment Management Inc. increased its position in Manhattan Bridge Capital by 53.4% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Manhattan Bridge Capital by 441.5% in the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after purchasing an additional 119,595 shares during the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Manhattan Bridge Capital in a research note on Tuesday. They set a “strong-buy” rating on the stock.

Manhattan Bridge Capital Stock Down 0.9 %

Shares of LOAN stock opened at $5.62 on Wednesday. Manhattan Bridge Capital, Inc. has a twelve month low of $4.60 and a twelve month high of $5.90. The stock’s fifty day simple moving average is $5.58 and its 200 day simple moving average is $5.43. The firm has a market capitalization of $64.29 million, a P/E ratio of 11.47 and a beta of 0.55.

Manhattan Bridge Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 8.19%. The ex-dividend date of this dividend is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 93.88%.

Manhattan Bridge Capital Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.