OLIO Financial Planning Raises Holdings in Manhattan Bridge Capital, Inc $LOAN

Key Points

• OLIO Financial Planning increased its stake in Manhattan Bridge Capital, Inc (NASDAQ:LOAN) by 196.3% in the second quarter, acquiring a total of 72,798 shares worth approximately $398,000.
• Manhattan Bridge Capital announced a quarterly dividend of $0.115 per share, with an annualized dividend yield of 8.7% and a high payout ratio of 97.87%.
• The company reported a quarterly earnings per share (EPS) of $0.12, meeting analysts' consensus estimates, with revenue of $2.36 million for the quarter.

OLIO Financial Planning grew its position in Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Free Report) by 196.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,798 shares of the credit services provider's stock after acquiring an additional 48,230 shares during the quarter. OLIO Financial Planning owned about 0.64% of Manhattan Bridge Capital worth $398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingsview Wealth Management LLC purchased a new position in shares of Manhattan Bridge Capital in the first quarter valued at approximately $121,000. Chicago Partners Investment Group LLC purchased a new position in Manhattan Bridge Capital during the first quarter worth approximately $296,000. Avant Financial Advisors LLC purchased a new position in Manhattan Bridge Capital during the fourth quarter worth approximately $1,626,000. Melia Wealth LLC lifted its position in Manhattan Bridge Capital by 2.8% during the first quarter. Melia Wealth LLC now owns 360,918 shares of the credit services provider's stock worth $2,133,000 after buying an additional 9,778 shares in the last quarter. Finally, Hardy Reed LLC lifted its position in Manhattan Bridge Capital by 4.3% during the first quarter. Hardy Reed LLC now owns 386,259 shares of the credit services provider's stock worth $2,283,000 after buying an additional 15,760 shares in the last quarter. Hedge funds and other institutional investors own 21.84% of the company's stock.

Manhattan Bridge Capital Price Performance

Manhattan Bridge Capital stock traded down $0.10 during trading on Friday, reaching $5.35. 35,719 shares of the company were exchanged, compared to its average volume of 21,037. Manhattan Bridge Capital, Inc has a 52-week low of $4.74 and a 52-week high of $6.05. The company has a market capitalization of $61.20 million, a P/E ratio of 11.38 and a beta of 0.35. The stock's 50 day simple moving average is $5.42 and its two-hundred day simple moving average is $5.36.

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

Manhattan Bridge Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.6%. Manhattan Bridge Capital's payout ratio is presently 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.