Melia Wealth LLC Makes New $1.97 Million Investment in Manhattan Bridge Capital, Inc $LOAN

Melia Wealth LLC acquired a new stake in Manhattan Bridge Capital, Inc (NASDAQ:LOAN) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 436,642 shares of the credit services provider’s stock, valued at approximately $1,974,000. Manhattan Bridge Capital comprises approximately 1.1% of Melia Wealth LLC’s holdings, making the stock its 15th biggest position.

A number of other institutional investors have also recently modified their holdings of the stock. Beese Fulmer Investment Management Inc. grew its holdings in shares of Manhattan Bridge Capital by 200.9% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock worth $1,597,000 after purchasing an additional 229,244 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in Manhattan Bridge Capital during the second quarter worth about $970,000. Mercer Global Advisors Inc. ADV lifted its position in Manhattan Bridge Capital by 28.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after purchasing an additional 81,220 shares during the period. BlackRock Inc. bought a new stake in Manhattan Bridge Capital during the second quarter worth about $198,000. Finally, Eclectic Associates Inc. ADV acquired a new stake in Manhattan Bridge Capital during the second quarter worth about $190,000. 21.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Manhattan Bridge Capital news, CEO Assaf Ran bought 8,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were purchased at an average price of $3.99 per share, for a total transaction of $31,920.00. Following the completion of the transaction, the chief executive officer directly owned 1,235,000 shares in the company, valued at approximately $4,927,650. The trade was a 0.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 24.60% of the stock is owned by company insiders.

Manhattan Bridge Capital Price Performance

NASDAQ LOAN opened at $4.07 on Friday. The business has a fifty day moving average price of $4.25 and a two-hundred day moving average price of $4.33. Manhattan Bridge Capital, Inc has a fifty-two week low of $3.90 and a fifty-two week high of $5.80. The stock has a market capitalization of $46.52 million, a PE ratio of 9.69 and a beta of 0.16.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%. The business had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.04 million.

Manhattan Bridge Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 8th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $0.44 annualized dividend and a yield of 10.8%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 104.76%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Manhattan Bridge Capital currently has a consensus rating of “Hold”.

Manhattan Bridge Capital 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.