Frazier Financial Advisors LLC Purchases New Position in Manhattan Bridge Capital, Inc $LOAN

Frazier Financial Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 214,700 shares of the credit services provider’s stock, valued at approximately $970,000. Manhattan Bridge Capital accounts for about 0.5% of Frazier Financial Advisors LLC’s holdings, making the stock its 21st biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of LOAN. Osaic Holdings Inc. grew its position in shares of Manhattan Bridge Capital by 140.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after buying an additional 3,292 shares during the last quarter. RW Investment Management LLC bought a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $59,000. Bridgeway Capital Management LLC raised its holdings in shares of 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 valued at $91,000 after acquiring an additional 4,300 shares in the last quarter. Rothschild Wealth LLC bought a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at approximately $118,000. Finally, Kestra Advisory Services LLC lifted its stake in 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 worth $120,000 after acquiring an additional 12,553 shares during the period. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Price Performance

LOAN stock opened at $4.07 on Thursday. Manhattan Bridge Capital, Inc has a 1 year low of $3.90 and a 1 year high of $5.80. The firm has a 50-day moving average of $4.29 and a 200 day moving average of $4.35. The company has a market cap of $46.52 million, a P/E ratio of 9.69 and a beta of 0.16.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.04 million.

Manhattan Bridge Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 8th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $0.44 annualized dividend and a dividend yield of 10.8%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 104.76%.

Insiders Place Their Bets

In other Manhattan Bridge Capital news, CEO Assaf Ran bought 8,000 shares of Manhattan Bridge Capital stock in a transaction on Tuesday, July 28th. The stock was acquired at an average price of $3.99 per share, with a total value of $31,920.00. Following the acquisition, the chief executive officer owned 1,235,000 shares in the company, valued at approximately $4,927,650. This trade represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.60% of the stock is currently owned by insiders.

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 report on Thursday, July 23rd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

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.