Avant Financial Advisors LLC Takes $1.63 Million Position in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Avant Financial Advisors LLC purchased a new stake in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 290,280 shares of the credit services provider's stock, valued at approximately $1,626,000. Manhattan Bridge Capital makes up approximately 1.5% of Avant Financial Advisors LLC's investment portfolio, making the stock its 23rd largest holding. Avant Financial Advisors LLC owned about 2.54% of Manhattan Bridge Capital as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter worth approximately $97,000. NewEdge Advisors LLC increased its stake in Manhattan Bridge Capital by 28.4% in the fourth quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider's stock valued at $157,000 after purchasing an additional 6,215 shares during the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of Manhattan Bridge Capital by 13.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider's stock worth $159,000 after acquiring an additional 3,324 shares during the period. LPL Financial LLC acquired a new position in shares of Manhattan Bridge Capital in the 4th quarter valued at $169,000. Finally, Capital Management Associates Inc purchased a new stake in Manhattan Bridge Capital during the fourth quarter valued at about $184,000. Hedge funds and other institutional investors own 21.84% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on shares of Manhattan Bridge Capital in a research report on Sunday, May 18th. They issued a "strong-buy" rating for the company.

Manhattan Bridge Capital Stock Performance

Shares of NASDAQ:LOAN traded up $0.03 during trading hours on Friday, hitting $5.21. The stock had a trading volume of 17,224 shares, compared to its average volume of 18,475. Manhattan Bridge Capital, Inc. has a 1-year low of $4.74 and a 1-year high of $6.05. The firm has a market capitalization of $59.60 million, a price-to-earnings ratio of 10.63 and a beta of 0.33. The stock's fifty day simple moving average is $5.25 and its 200 day simple moving average is $5.45.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $2.27 million for the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 8.83%. The ex-dividend date is Tuesday, July 8th. Manhattan Bridge Capital's payout ratio is 97.87%.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.