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

Bard Associates Inc. reduced its holdings in Manhattan Bridge Capital, Inc (NASDAQ:LOAN) by 44.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,429 shares of the credit services provider’s stock after selling 157,342 shares during the period. Bard Associates Inc. owned approximately 1.74% of Manhattan Bridge Capital worth $1,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Melia Wealth LLC grew 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 acquiring an additional 57,932 shares during the period. Vanguard Group Inc. lifted 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. Fortress Financial Solutions LLC boosted its position in shares of Manhattan Bridge Capital by 26.7% in the 3rd quarter. Fortress Financial Solutions LLC now owns 152,430 shares of the credit services provider’s stock worth $837,000 after purchasing an additional 32,148 shares during the last quarter. Certuity LLC bought a new position in shares of Manhattan Bridge Capital in the 2nd quarter worth $306,000. Finally, Frazier Financial Advisors LLC grew its stake in shares of Manhattan Bridge Capital by 42.1% during the third quarter. Frazier Financial Advisors LLC now owns 29,126 shares of the credit services provider’s stock worth $160,000 after purchasing an additional 8,626 shares during the period. 21.84% of the stock is owned by institutional investors.

Manhattan Bridge Capital Stock Performance

LOAN opened at $4.34 on Friday. The firm’s fifty day moving average is $4.48 and its two-hundred day moving average is $4.85. The firm has a market cap of $49.65 million, a PE 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.

Manhattan Bridge Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 8th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 10.1%. The ex-dividend date is Wednesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is 100.00%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Bridge Capital in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Manhattan Bridge Capital presently has a consensus rating of “Hold”.

Manhattan Bridge Capital Company Profile

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.