Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Shares Acquired by OLIO Financial Planning

OLIO Financial Planning raised its stake in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 17.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,568 shares of the credit services provider’s stock after acquiring an additional 3,665 shares during the period. OLIO Financial Planning owned approximately 0.21% of Manhattan Bridge Capital worth $145,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LOAN. Hardy Reed LLC lifted its stake in Manhattan Bridge Capital by 7.8% in the fourth quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock worth $2,075,000 after acquiring an additional 26,733 shares during the last quarter. Melia Wealth LLC lifted its stake in Manhattan Bridge Capital by 3.0% in the fourth quarter. Melia Wealth LLC now owns 351,140 shares of the credit services provider’s stock worth $1,966,000 after acquiring an additional 10,301 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in Manhattan Bridge Capital in the fourth quarter worth approximately $1,684,000. Avant Financial Advisors LLC purchased a new position in Manhattan Bridge Capital in the fourth quarter worth approximately $1,626,000. Finally, Beese Fulmer Investment Management Inc. lifted its stake in Manhattan Bridge Capital by 9.7% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 142,597 shares of the credit services provider’s stock worth $799,000 after acquiring an additional 12,616 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on shares of Manhattan Bridge Capital in a research report on Sunday, May 18th. They set a “strong-buy” rating for the company.

Manhattan Bridge Capital Price Performance

LOAN stock opened at $5.03 on Friday. The company has a fifty day moving average price of $5.18 and a 200 day moving average price of $5.44. Manhattan Bridge Capital, Inc. has a 12 month low of $4.74 and a 12 month high of $6.05. The company has a market cap of $57.54 million, a price-to-earnings ratio of 10.27 and a beta of 0.33.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Thursday, April 24th. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $2.27 million during the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 9.15%. Manhattan Bridge Capital’s dividend payout ratio (DPR) 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.