Soltis Investment Advisors LLC bought a new stake in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,649,589 shares of the credit services provider's stock, valued at approximately $14,758,000. Manhattan Bridge Capital accounts for approximately 1.4% of Soltis Investment Advisors LLC's investment portfolio, making the stock its 12th biggest position. Soltis Investment Advisors LLC owned about 23.16% of Manhattan Bridge Capital at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Manhattan Bridge Capital by 441.5% during the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider's stock valued at $817,000 after buying an additional 119,595 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider's stock valued at $120,000 after acquiring an additional 6,117 shares during the last quarter. Waddell & Associates LLC lifted its stake in Manhattan Bridge Capital by 3.9% in the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider's stock worth $396,000 after purchasing an additional 2,861 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Manhattan Bridge Capital by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider's stock valued at $963,000 after purchasing an additional 21,950 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. grew its position in shares of Manhattan Bridge Capital by 53.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider's stock valued at $724,000 after purchasing an additional 45,222 shares in the last quarter. 21.84% of the stock is owned by hedge funds and other institutional investors.
Manhattan Bridge Capital Price Performance
Shares of NASDAQ LOAN traded up $0.05 during midday trading on Wednesday, reaching $5.59. 17,462 shares of the stock traded hands, compared to its average volume of 20,443. The company's 50 day moving average is $5.42 and its 200 day moving average is $5.31. Manhattan Bridge Capital, Inc. has a one year low of $4.60 and a one year high of $5.90. The stock has a market capitalization of $63.95 million, a PE ratio of 11.33 and a beta of 0.57.
Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The business had revenue of $2.31 million during the quarter.
Manhattan Bridge Capital Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.115 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.46 annualized dividend and a yield of 8.23%. Manhattan Bridge Capital's dividend payout ratio is currently 93.88%.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on Manhattan Bridge Capital in a research note on Monday. They set a "strong-buy" rating for the company.
Get Our Latest Research Report on LOAN
About Manhattan Bridge Capital
(
Free Report)
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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