National Asset Management Inc. purchased a new stake in shares of Manhattan Bridge Capital Inc. (NASDAQ:LOAN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,849 shares of the credit services provider’s stock, valued at approximately $166,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. James Investment Research Inc. bought a new stake in shares of Manhattan Bridge Capital during the second quarter valued at approximately $103,000. Granite Investment Partners LLC bought a new stake in shares of Manhattan Bridge Capital during the second quarter valued at approximately $342,000. Renaissance Technologies LLC grew its stake in shares of Manhattan Bridge Capital by 29.9% during the second quarter. Renaissance Technologies LLC now owns 266,700 shares of the credit services provider’s stock valued at $2,014,000 after purchasing an additional 61,362 shares during the last quarter. Finally, Capital Planning Advisors LLC bought a new stake in shares of Manhattan Bridge Capital during the second quarter valued at approximately $193,000. 14.74% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on LOAN. Maxim Group reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Manhattan Bridge Capital in a research note on Friday, August 3rd. ValuEngine cut shares of Manhattan Bridge Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th.
Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data on Thursday, October 18th. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Manhattan Bridge Capital had a net margin of 58.13% and a return on equity of 15.54%. The firm had revenue of $1.89 million for the quarter.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.48 dividend on an annualized basis and a yield of 8.60%.
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Manhattan Bridge Capital Profile
Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.
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