290,280 Shares in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Purchased by Avant Financial Advisors LLC

Avant Financial Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 290,280 shares of the credit services provider's stock, valued at approximately $1,626,000. Manhattan Bridge Capital comprises 1.5% of Avant Financial Advisors LLC's investment portfolio, making the stock its 23rd biggest holding. Avant Financial Advisors LLC owned 2.54% of Manhattan Bridge Capital at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of Manhattan Bridge Capital in the fourth quarter worth $97,000. Atria Wealth Solutions Inc. boosted its holdings in Manhattan Bridge Capital by 13.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider's stock valued at $159,000 after purchasing an additional 3,324 shares during the last quarter. NewEdge Advisors LLC grew its position in Manhattan Bridge Capital by 28.4% during the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider's stock worth $157,000 after purchasing an additional 6,215 shares during the period. LPL Financial LLC purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at about $169,000. Finally, Capital Management Associates Inc purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at about $184,000. 21.84% of the stock is owned by institutional investors and hedge funds.

Manhattan Bridge Capital Trading Down 0.3%

Manhattan Bridge Capital stock traded down $0.02 during mid-day trading on Monday, hitting $5.19. The company had a trading volume of 4,406 shares, compared to its average volume of 18,546. The company has a market capitalization of $59.31 million, a price-to-earnings ratio of 10.67 and a beta of 0.33. Manhattan Bridge Capital, Inc. has a 12-month low of $4.74 and a 12-month high of $6.05. The company's fifty day moving average is $5.25 and its 200-day moving average is $5.45.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.12. The firm 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 8.87%. The ex-dividend date of this dividend is Tuesday, July 8th. Manhattan Bridge Capital's payout ratio is currently 97.87%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on Manhattan Bridge Capital in a research note on Sunday, May 18th. They issued a "strong-buy" rating on the stock.

About Manhattan Bridge Capital

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.