Bard Associates Inc. Trims Stake in Manhattan Bridge Capital Inc. (LOAN)

Bard Associates Inc. cut its stake in Manhattan Bridge Capital Inc. (NASDAQ:LOAN) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,575 shares of the credit services provider’s stock after selling 21,200 shares during the period. Bard Associates Inc. owned 2.71% of Manhattan Bridge Capital worth $1,952,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. James Investment Research Inc. bought a new stake in Manhattan Bridge Capital in the second quarter valued at approximately $103,000. Capital Planning Advisors LLC bought a new stake in Manhattan Bridge Capital in the second quarter valued at approximately $193,000. Moneta Group Investment Advisors LLC boosted its holdings in Manhattan Bridge Capital by 12.0% in the first quarter. Moneta Group Investment Advisors LLC now owns 204,085 shares of the credit services provider’s stock valued at $204,000 after acquiring an additional 21,834 shares during the last quarter. Deutsche Bank AG boosted its holdings in Manhattan Bridge Capital by 59.0% in the fourth quarter. Deutsche Bank AG now owns 36,553 shares of the credit services provider’s stock valued at $217,000 after acquiring an additional 13,559 shares during the last quarter. Finally, Granite Investment Partners LLC bought a new stake in Manhattan Bridge Capital in the second quarter valued at approximately $342,000. Institutional investors and hedge funds own 38.97% of the company’s stock.

Several brokerages recently commented on LOAN. Maxim Group reiterated a “buy” rating and issued a $8.00 target price on shares of Manhattan Bridge Capital in a report on Friday, August 3rd. ValuEngine cut Manhattan Bridge Capital from a “buy” rating to a “hold” rating in a report on Wednesday.

In other Manhattan Bridge Capital news, insider Assaf Ran purchased 5,000 shares of the business’s stock in a transaction on Friday, August 10th. The shares were purchased at an average cost of $6.74 per share, for a total transaction of $33,700.00. Following the acquisition, the insider now owns 2,526,000 shares of the company’s stock, valued at $17,025,240. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 32.40% of the stock is currently owned by corporate insiders.

Shares of LOAN stock opened at $6.40 on Friday. Manhattan Bridge Capital Inc. has a one year low of $5.50 and a one year high of $8.00. The company has a market capitalization of $60.14 million, a P/E ratio of 13.70 and a beta of 0.57.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Friday, July 27th. The credit services provider reported $0.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Manhattan Bridge Capital had a return on equity of 16.28% and a net margin of 57.31%. The business had revenue of $1.67 million for the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Wednesday, October 10th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 7.50%. The ex-dividend date is Tuesday, October 9th.

Manhattan Bridge Capital Company 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.

Further Reading: Stop Order

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Institutional Ownership by Quarter for Manhattan Bridge Capital (NASDAQ:LOAN)

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