436,642 Shares in Manhattan Bridge Capital, Inc $LOAN Purchased by Melia Wealth LLC

Melia Wealth LLC purchased a new position in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 436,642 shares of the credit services provider’s stock, valued at approximately $1,974,000. Manhattan Bridge Capital comprises 1.1% of Melia Wealth LLC’s holdings, making the stock its 15th biggest holding. Melia Wealth LLC owned approximately 3.82% of Manhattan Bridge Capital at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LOAN. Osaic Holdings Inc. boosted its stake in shares of Manhattan Bridge Capital by 140.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 3,292 shares during the period. RW Investment Management LLC acquired a new stake in Manhattan Bridge Capital during the 2nd quarter valued at $59,000. Bridgeway Capital Management LLC boosted its position in Manhattan Bridge Capital by 28.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock worth $91,000 after purchasing an additional 4,300 shares during the period. Rothschild Wealth LLC bought a new position in Manhattan Bridge Capital during the fourth quarter worth $118,000. Finally, Kestra Advisory Services LLC increased its holdings in shares of Manhattan Bridge Capital by 94.2% in the fourth quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider’s stock valued at $120,000 after purchasing an additional 12,553 shares during the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Manhattan Bridge Capital news, CEO Assaf Ran purchased 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average cost of $3.99 per share, for a total transaction of $31,920.00. Following the completion of the purchase, the chief executive officer owned 1,235,000 shares of the company’s stock, valued at approximately $4,927,650. The trade was a 0.65% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut 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.com, Manhattan Bridge Capital has a consensus rating of “Hold”.

Manhattan Bridge Capital Trading Up 1.0%

Shares of NASDAQ LOAN opened at $4.07 on Friday. The firm has a market cap of $46.52 million, a P/E 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. The business’s 50 day moving average is $4.25 and its 200-day moving average is $4.33.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results 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). Manhattan Bridge Capital had a return on equity of 11.02% and a net margin of 58.30%.The firm had revenue of $0.00 million for the quarter, compared to analyst estimates of $2.04 million.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date of this dividend is Thursday, October 8th. Manhattan Bridge Capital’s payout ratio is presently 104.76%.

Manhattan Bridge Capital Profile

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.