Manhattan Bridge Capital Inc. (LOAN) Shares Bought by Granite Investment Partners LLC
Granite Investment Partners LLC grew its position in Manhattan Bridge Capital Inc. (NASDAQ:LOAN) by 39.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,316 shares of the credit services provider’s stock after acquiring an additional 18,000 shares during the period. Granite Investment Partners LLC’s holdings in Manhattan Bridge Capital were worth $406,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. National Asset Management Inc. acquired a new position in Manhattan Bridge Capital during the third quarter worth approximately $166,000. Renaissance Technologies LLC increased its position in Manhattan Bridge Capital by 29.9% during the second quarter. Renaissance Technologies LLC now owns 266,700 shares of the credit services provider’s stock worth $2,014,000 after buying an additional 61,362 shares during the period. Capital Planning Advisors LLC acquired a new position in Manhattan Bridge Capital during the second quarter worth approximately $193,000. Finally, James Investment Research Inc. acquired a new position in Manhattan Bridge Capital during the second quarter worth approximately $103,000. Institutional investors own 14.74% of the company’s stock.
LOAN has been the topic of several research analyst reports. Maxim Group reaffirmed a “buy” rating and set a $8.00 price target on shares of Manhattan Bridge Capital in a research report on Friday, August 3rd. ValuEngine lowered Manhattan Bridge Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th.
Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Thursday, October 18th. The credit services provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Manhattan Bridge Capital had a return on equity of 15.54% and a net margin of 58.13%. The company had revenue of $1.89 million for the quarter.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a $0.12 dividend. The ex-dividend date is Friday, December 28th. This represents a $0.48 annualized dividend and a dividend yield of 8.09%.
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Manhattan Bridge Capital Profile
Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.
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