Waddell & Associates LLC Purchases 2,861 Shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Waddell & Associates LLC grew its position in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,118 shares of the credit services provider’s stock after acquiring an additional 2,861 shares during the quarter. Waddell & Associates LLC owned 0.67% of Manhattan Bridge Capital worth $396,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. National Bank of Canada FI raised its stake in shares of Manhattan Bridge Capital by 195.0% in the fourth quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock valued at $28,000 after purchasing an additional 3,900 shares in the last quarter. Riversedge Advisors LLC bought a new position in shares of Manhattan Bridge Capital during the 2nd quarter worth about $68,000. Virtu Financial LLC bought a new position in shares of Manhattan Bridge Capital during the 1st quarter worth about $69,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Manhattan Bridge Capital by 67.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after acquiring an additional 6,923 shares in the last quarter. Finally, Frazier Financial Advisors LLC bought a new stake in Manhattan Bridge Capital in the fourth quarter valued at about $206,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Manhattan Bridge Capital in a research note on Wednesday. They set a “strong-buy” rating for the company.

Manhattan Bridge Capital Price Performance

Shares of Manhattan Bridge Capital stock traded down $0.01 during midday trading on Friday, hitting $5.20. 13,707 shares of the company were exchanged, compared to its average volume of 21,287. The firm has a 50 day simple moving average of $5.27 and a 200-day simple moving average of $5.11. The firm has a market cap of $59.48 million, a P/E ratio of 10.40 and a beta of 0.58. Manhattan Bridge Capital, Inc. has a 52 week low of $4.27 and a 52 week high of $5.59.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%. The company had revenue of $2.44 million during the quarter.

Manhattan Bridge Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be given a $0.115 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a yield of 8.85%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 92.00%.

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.