International Assets Investment Management LLC Sells 119,261 Shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

International Assets Investment Management LLC reduced its stake in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 81.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,421 shares of the credit services provider’s stock after selling 119,261 shares during the quarter. International Assets Investment Management LLC owned approximately 0.24% of Manhattan Bridge Capital worth $153,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Soltis Investment Advisors LLC purchased a new position in shares of Manhattan Bridge Capital during the third quarter valued at $14,758,000. Beese Fulmer Investment Management Inc. grew its holdings in Manhattan Bridge Capital by 53.4% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after acquiring an additional 45,222 shares in the last quarter. Renaissance Technologies LLC increased its position in Manhattan Bridge Capital by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after purchasing an additional 21,950 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Manhattan Bridge Capital by 35.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after purchasing an additional 6,117 shares during the period. Finally, Geode Capital Management LLC raised 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 in the last quarter. 21.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Manhattan Bridge Capital in a research note on Friday, January 10th. They set a “strong-buy” rating on the stock.

Manhattan Bridge Capital Trading Up 2.4 %

Shares of NASDAQ:LOAN opened at $5.50 on Wednesday. The company has a market capitalization of $62.92 million, a PE ratio of 11.22 and a beta of 0.57. Manhattan Bridge Capital, Inc. has a 12-month low of $4.60 and a 12-month high of $5.90. The business’s fifty day simple moving average is $5.47 and its 200-day simple moving average is $5.38.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Manhattan Bridge Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.115 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 8.36%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 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.