Frazier Financial Advisors LLC Invests $970,000 in Manhattan Bridge Capital, Inc $LOAN

Frazier Financial Advisors LLC acquired a new position in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 214,700 shares of the credit services provider’s stock, valued at approximately $970,000. Manhattan Bridge Capital makes up about 0.5% of Frazier Financial Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Frazier Financial Advisors LLC owned 1.88% of Manhattan Bridge Capital at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOAN. Melia Wealth LLC grew its position in Manhattan Bridge Capital by 2.6% during the fourth quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock valued at $2,082,000 after acquiring an additional 11,173 shares during the last quarter. Vanguard Group Inc. boosted 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 in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Manhattan Bridge Capital by 28.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after purchasing an additional 81,220 shares in the last quarter. 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 valued at $1,597,000 after purchasing an additional 229,244 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Manhattan Bridge Capital by 7.9% during the 1st quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock valued at $872,000 after purchasing an additional 14,290 shares during the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Manhattan Bridge Capital Price Performance

LOAN opened at $4.07 on Thursday. The stock’s 50 day simple moving average is $4.29 and its 200 day simple moving average is $4.35. The firm has a market cap of $46.52 million, a price-to-earnings ratio of 9.69 and a beta of 0.16. Manhattan Bridge Capital, Inc has a 1 year low of $3.90 and a 1 year high of $5.80.

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

Manhattan Bridge Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 8th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date is Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio is currently 104.76%.

Insider Buying and Selling

In other news, CEO Assaf Ran purchased 8,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was bought at an average cost of $3.99 per share, for a total transaction of $31,920.00. Following the acquisition, the chief executive officer directly owned 1,235,000 shares of the company’s stock, valued at $4,927,650. This represents a 0.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 24.60% of the stock is owned by corporate insiders.

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.