Geode Capital Management LLC Purchases 3,008 Shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Geode Capital Management LLC boosted its position in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,918 shares of the credit services provider’s stock after buying an additional 3,008 shares during the period. Geode Capital Management LLC owned approximately 1.00% of Manhattan Bridge Capital worth $635,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its stake 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 worth $120,000 after buying an additional 6,117 shares in the last quarter. Renaissance Technologies LLC grew 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 buying an additional 21,950 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its stake in Manhattan Bridge Capital by 53.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after buying an additional 45,222 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Manhattan Bridge Capital by 441.5% during the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after buying an additional 119,595 shares in the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Bridge Capital Trading Down 1.1 %

LOAN opened at $5.45 on Friday. The company’s 50 day moving average is $5.47 and its 200-day moving average is $5.37. Manhattan Bridge Capital, Inc. has a 1-year low of $4.60 and a 1-year high of $5.90. The company has a market cap of $62.34 million, a P/E ratio of 11.12 and a beta of 0.55.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, meeting 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 company had revenue of $2.31 million for the quarter.

Manhattan Bridge Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.115 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.44%. Manhattan Bridge Capital’s payout ratio is currently 93.88%.

Wall Street Analysts Forecast Growth

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

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.