Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Shares Sold by Abacus Wealth Partners LLC

Abacus Wealth Partners LLC cut its holdings in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 10.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 42,775 shares of the credit services provider’s stock after selling 5,077 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Manhattan Bridge Capital were worth $240,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Manhattan Bridge Capital by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after purchasing an additional 3,008 shares during the last quarter. Soltis Investment Advisors LLC purchased a new position in shares of Manhattan Bridge Capital in the 3rd quarter worth $14,758,000. International Assets Investment Management LLC boosted its holdings in Manhattan Bridge Capital by 441.5% in 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 acquiring an additional 119,595 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in Manhattan Bridge Capital by 35.7% during the second 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 period. Finally, Renaissance Technologies LLC increased its stake in Manhattan Bridge Capital by 13.3% during the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after acquiring an additional 21,950 shares during the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Manhattan Bridge Capital in a research note on Saturday. They issued a “strong-buy” rating on the stock.

Manhattan Bridge Capital Stock Up 0.7 %

LOAN opened at $5.67 on Tuesday. Manhattan Bridge Capital, Inc. has a 52-week low of $4.60 and a 52-week high of $5.90. The company has a 50 day moving average of $5.49 and a two-hundred day moving average of $5.39. The company has a market cap of $64.86 million, a P/E ratio of 11.57 and a beta of 0.55.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The firm had revenue of $2.31 million during the quarter.

Manhattan Bridge Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.115 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.11%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 93.88%.

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.