Manhattan Bridge Capital (NASDAQ:LOAN) Stock: Insider Assaf Ran Acquires 10,000 Shares

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) CEO Assaf Ran acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The stock was bought at an average cost of $3.47 per share, for a total transaction of $34,700.00. Following the completion of the transaction, the chief executive officer directly owned 1,245,000 shares in the company, valued at $4,320,150. This represents a 0.81% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Assaf Ran also recently made the following trade(s):

• On Tuesday, July 28th, Assaf Ran bought 8,000 shares of Manhattan Bridge Capital stock. The stock was bought at an average cost of $3.99 per share, with a total value of $31,920.00.

Manhattan Bridge Capital Trading Down 0.3%

LOAN stock opened at $3.48 on Friday. The stock has a 50-day moving average price of $3.84 and a two-hundred day moving average price of $4.16. The stock has a market cap of $39.76 million, a PE ratio of 8.29 and a beta of 0.20. Manhattan Bridge Capital, Inc has a 1 year low of $3.31 and a 1 year high of $5.27.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Wednesday, October 21st. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Manhattan Bridge Capital had a return on equity of 11.14% and a net margin of 58.61%. The firm had revenue of $2.06 million for the quarter, compared to the consensus estimate of $2.05 million. On average, analysts forecast that Manhattan Bridge Capital, Inc will post 0.42 earnings per share for the current fiscal year.

Manhattan Bridge Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.1050 per share. This is a decrease from Manhattan Bridge Capital’s previous quarterly dividend of $0.11. This represents a $0.42 annualized dividend and a dividend yield of 12.1%. The ex-dividend date of this dividend is Thursday, December 31st. Manhattan Bridge Capital’s payout ratio is currently 100.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LOAN. RW Investment Management LLC acquired a new stake in Manhattan Bridge Capital in the 2nd quarter valued at $59,000. Eclectic Associates Inc. ADV bought a new stake in Manhattan Bridge Capital during the 2nd quarter worth about $190,000. BlackRock Inc. bought a new stake in Manhattan Bridge Capital during the 2nd quarter worth about $198,000. Renaissance Technologies LLC boosted its stake 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 worth $872,000 after buying an additional 14,290 shares during the last quarter. Finally, Frazier Financial Advisors LLC boosted its stake in shares of Manhattan Bridge Capital by 156.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock worth $907,000 after buying an additional 124,229 shares during the last quarter. 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 lowered 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 research report on Monday, October 5th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

About Manhattan Bridge Capital

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.