Hardy Reed LLC Cuts Stake in Manhattan Bridge Capital, Inc $LOAN

Key Points

• Hardy Reed LLC has reduced its stake in Manhattan Bridge Capital, Inc. by 21.1%, now holding approximately 2.66% of the company, valued at about $1.67 million.
• Institutional investors collectively own 21.84% of Manhattan Bridge Capital, with various firms adjusting their positions, indicating ongoing interest in the stock.
• Manhattan Bridge Capital recently announced a quarterly dividend of $0.115 per share, equating to an annual yield of 8.1%, with the payout ratio reported at 97.87%.

Hardy Reed LLC lessened its holdings in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Free Report) by 21.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 304,666 shares of the credit services provider's stock after selling 81,593 shares during the period. Hardy Reed LLC owned approximately 2.66% of Manhattan Bridge Capital worth $1,667,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LOAN. Melia Wealth LLC boosted its holdings in Manhattan Bridge Capital by 2.8% in the first quarter. Melia Wealth LLC now owns 360,918 shares of the credit services provider's stock worth $2,133,000 after acquiring an additional 9,778 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Manhattan Bridge Capital in the 1st quarter valued at approximately $121,000. OLIO Financial Planning boosted its stake in Manhattan Bridge Capital by 196.3% in the 2nd quarter. OLIO Financial Planning now owns 72,798 shares of the credit services provider's stock worth $398,000 after purchasing an additional 48,230 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in Manhattan Bridge Capital in the 1st quarter worth approximately $296,000. Institutional investors and hedge funds own 21.84% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Manhattan Bridge Capital in a report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Manhattan Bridge Capital has a consensus rating of "Hold".

Manhattan Bridge Capital Trading Up 1.1%

Shares of NASDAQ:LOAN opened at $5.68 on Tuesday. Manhattan Bridge Capital, Inc has a twelve month low of $4.74 and a twelve month high of $6.05. The company has a market cap of $64.97 million, a PE ratio of 12.09 and a beta of 0.37. The company's 50 day moving average is $5.43 and its 200 day moving average is $5.35.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $2.36 million during the quarter. Manhattan Bridge Capital had a net margin of 59.04% and a return on equity of 12.68%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th will be given a dividend of $0.115 per share. The ex-dividend date is Wednesday, October 8th. This represents a $0.46 dividend on an annualized basis and a yield of 8.1%. Manhattan Bridge Capital's payout ratio is currently 97.87%.

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.

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