Beese Fulmer Investment Management Inc. grew its position in Manhattan Bridge Capital, Inc (NASDAQ:LOAN – Free Report) by 200.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 343,376 shares of the credit services provider’s stock after purchasing an additional 229,244 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Manhattan Bridge Capital were worth $1,597,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of LOAN. Mercer Global Advisors Inc. ADV increased its position in Manhattan Bridge Capital by 28.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after purchasing an additional 81,220 shares during the last quarter. Melia Wealth LLC increased its position in Manhattan Bridge Capital by 15.3% in the 3rd quarter. Melia Wealth LLC now owns 436,465 shares of the credit services provider’s stock worth $2,394,000 after purchasing an additional 57,932 shares during the last quarter. Apella Capital LLC acquired a new position in Manhattan Bridge Capital in the 4th quarter worth about $192,000. Citadel Advisors LLC acquired a new position in Manhattan Bridge Capital in the 3rd quarter worth about $149,000. Finally, Briaud Financial Planning Inc acquired a new position in Manhattan Bridge Capital in the 3rd quarter worth about $136,000. 21.84% of the stock is owned by institutional investors and hedge funds.
Manhattan Bridge Capital Stock Performance
Shares of NASDAQ LOAN opened at $4.22 on Monday. The firm has a market cap of $48.23 million, a price-to-earnings ratio of 9.59 and a beta of 0.18. The business’s 50-day simple moving average is $4.40 and its 200-day simple moving average is $4.56. Manhattan Bridge Capital, Inc has a 52 week low of $4.13 and a 52 week high of $5.85.
Manhattan Bridge Capital Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 8th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.4%. Manhattan Bridge Capital’s dividend payout ratio is currently 100.00%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings lowered Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.
Get Our Latest Stock Analysis on LOAN
Manhattan Bridge Capital Profile
Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.
Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.
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