Abacus Wealth Partners LLC Has $267,000 Stock Position in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Abacus Wealth Partners LLC reduced its holdings in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 47,852 shares of the credit services provider’s stock after selling 4,273 shares during the quarter. Abacus Wealth Partners LLC owned approximately 0.42% of Manhattan Bridge Capital worth $267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its position in Manhattan Bridge Capital by 67.8% in 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 during the period. Virtu Financial LLC acquired a new position in Manhattan Bridge Capital in the 1st quarter valued at approximately $69,000. Waddell & Associates LLC increased its position 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 valued at $396,000 after acquiring an additional 2,861 shares during the period. PDS Planning Inc acquired a new stake in shares of Manhattan Bridge Capital during the first quarter worth $499,000. Finally, Melia Wealth LLC acquired a new stake in shares of Manhattan Bridge Capital during the first quarter worth $315,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Manhattan Bridge Capital in a research report on Saturday, September 28th. They set a “strong-buy” rating for the company.

Manhattan Bridge Capital Stock Down 0.7 %

LOAN opened at $5.59 on Friday. Manhattan Bridge Capital, Inc. has a twelve month low of $4.27 and a twelve month high of $5.69. The company has a fifty day moving average of $5.28 and a 200-day moving average of $5.18. The stock has a market cap of $63.94 million, a PE ratio of 11.18 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $2.44 million for the quarter. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%.

Manhattan Bridge Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 8th will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 8.23%. The ex-dividend date of this dividend is Tuesday, October 8th. Manhattan Bridge Capital’s dividend payout ratio is presently 92.00%.

Manhattan Bridge Capital Profile

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.