Manhattan Bridge Capital (NASDAQ:LOAN) CEO Buys 10,000 Shares of Company Stock

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) CEO Assaf Ran acquired 10,000 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was purchased at an average cost of $3.47 per share, for a total transaction of $34,700.00. Following the completion of the acquisition, the chief executive officer owned 1,245,000 shares in the company, valued at approximately $4,320,150. This represents a 0.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 price of $3.99 per share, for a total transaction of $31,920.00.

Manhattan Bridge Capital Stock Up 2.9%

Shares of LOAN traded up $0.10 during midday trading on Thursday, reaching $3.49. 95,464 shares of the stock were exchanged, compared to its average volume of 31,390. Manhattan Bridge Capital, Inc has a twelve month low of $3.31 and a twelve month high of $5.27. The company has a market cap of $39.89 million, a P/E ratio of 8.31 and a beta of 0.20. The stock’s 50 day simple moving average is $3.87 and its 200 day simple moving average is $4.17.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Wednesday, October 21st. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%. The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $2.04 million. As a group, analysts predict that Manhattan Bridge Capital, Inc will post 0.42 earnings per share for the current year.

Manhattan Bridge Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 8th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 12.6%. The ex-dividend date was Thursday, October 8th. Manhattan Bridge Capital’s payout ratio is 104.76%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently bought and sold shares of LOAN. Melia Wealth LLC acquired a new stake in Manhattan Bridge Capital during the second quarter worth about $1,974,000. Frazier Financial Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the 2nd quarter valued at approximately $970,000. Renaissance Technologies LLC raised its position in shares of Manhattan Bridge Capital by 7.9% in the 1st quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock valued at $872,000 after buying an additional 14,290 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Manhattan Bridge Capital in the 2nd quarter valued at approximately $198,000. Finally, Eclectic Associates Inc. ADV bought a new stake in shares of Manhattan Bridge Capital during the 2nd quarter worth approximately $190,000. Institutional investors own 21.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LOAN shares. Weiss Ratings downgraded Manhattan Bridge Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Zacks Research raised Manhattan Bridge Capital to a “hold” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus 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.