Manhattan Bridge Capital, Inc $LOAN Shares Sold by Hardy Reed LLC

Hardy Reed LLC reduced its stake in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) by 21.1% in the 2nd quarter, Holdings Channel reports. The fund owned 304,666 shares of the credit services provider’s stock after selling 81,593 shares during the period. Hardy Reed LLC’s holdings in Manhattan Bridge Capital were worth $1,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of LOAN. Kingsview Wealth Management LLC acquired a new stake in shares of Manhattan Bridge Capital during the 1st quarter worth approximately $121,000. Chicago Partners Investment Group LLC purchased a new stake in Manhattan Bridge Capital during the first quarter worth $296,000. OLIO Financial Planning grew its position in Manhattan Bridge Capital by 196.3% during the second quarter. OLIO Financial Planning now owns 72,798 shares of the credit services provider’s stock valued at $398,000 after buying an additional 48,230 shares during the period. Finally, Melia Wealth LLC increased its holdings in Manhattan Bridge Capital by 2.8% in the first quarter. Melia Wealth LLC now owns 360,918 shares of the credit services provider’s stock valued at $2,133,000 after buying an additional 9,778 shares in the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Manhattan Bridge Capital in a research note on Saturday, September 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock opened at $5.68 on Tuesday. The stock has a market capitalization of $64.97 million, a P/E ratio of 12.09 and a beta of 0.37. The company’s fifty day moving average price is $5.43 and its 200 day moving average price is $5.35. Manhattan Bridge Capital, Inc has a 1 year low of $4.74 and a 1 year high of $6.05.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Tuesday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Manhattan Bridge Capital had a net margin of 59.04% and a return on equity of 12.68%. The business had revenue of $2.36 million for the quarter.

Manhattan Bridge Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 8.1%. The ex-dividend date is Wednesday, October 8th. Manhattan Bridge Capital’s payout ratio is presently 97.87%.

About Manhattan Bridge Capital

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.