Manhattan Bridge Capital (NASDAQ:LOAN) CEO Assaf Ran Buys 10,000 Shares of Stock

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) CEO Assaf Ran purchased 10,000 shares of the business’s stock in a transaction on Thursday, October 22nd. The stock was purchased at an average price of $3.47 per share, with a total value of $34,700.00. Following the purchase, the chief executive officer owned 1,245,000 shares of the company’s stock, valued at approximately $4,320,150. The trade was a 0.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, July 28th, Assaf Ran acquired 8,000 shares of Manhattan Bridge Capital stock. The shares were purchased at an average price of $3.99 per share, for a total transaction of $31,920.00.

Manhattan Bridge Capital Stock Up 2.9%

Shares of LOAN stock traded up $0.10 on Thursday, reaching $3.49. The stock had a trading volume of 95,464 shares, compared to its average volume of 31,390. The firm’s 50-day moving average is $3.87 and its two-hundred day moving average is $4.17. The firm has a market capitalization of $39.89 million, a price-to-earnings ratio of 8.31 and a beta of 0.20. Manhattan Bridge Capital, Inc has a 12 month low of $3.31 and a 12 month high of $5.27.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its 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 net margin of 58.30% and a return on equity of 11.02%. The business had revenue of $0.00 million during the quarter, compared to the consensus estimate of $2.04 million. On average, sell-side analysts forecast that Manhattan Bridge Capital, Inc will post 0.42 earnings per share for the current fiscal year.

Manhattan Bridge Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date of this dividend was Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 104.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LOAN. Zacks Research raised Manhattan Bridge Capital to a “hold” rating in a report on Monday, October 5th. Weiss Ratings downgraded Manhattan Bridge Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. RW Investment Management LLC acquired a new stake in Manhattan Bridge Capital during the second quarter worth approximately $59,000. Renaissance Technologies LLC grew its position in shares of Manhattan Bridge Capital by 7.9% in the first quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock valued at $872,000 after purchasing an additional 14,290 shares during the last quarter. Eclectic Associates Inc. ADV acquired a new position in shares of Manhattan Bridge Capital in the second quarter valued at approximately $190,000. BlackRock Inc. acquired a new position in shares of Manhattan Bridge Capital in the second quarter valued at approximately $198,000. Finally, Frazier Financial Advisors LLC increased its stake in shares of Manhattan Bridge Capital by 156.0% during the first quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock worth $907,000 after purchasing an additional 124,229 shares during the period. 21.84% of the stock is owned by institutional investors.

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.