Insider Buying: Manhattan Bridge Capital Inc. (NASDAQ:LOAN) CEO Buys 6,500 Shares of Stock

Manhattan Bridge Capital Inc. (NASDAQ:LOAN) CEO Assaf Ran acquired 6,500 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was acquired at an average price of $3.47 per share, for a total transaction of $22,555.00. Following the purchase, the chief executive officer now directly owns 2,557,500 shares of the company’s stock, valued at $8,874,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Assaf Ran also recently made the following trade(s):

  • On Friday, March 20th, Assaf Ran acquired 8,000 shares of Manhattan Bridge Capital stock. The stock was acquired at an average cost of $3.23 per share, with a total value of $25,840.00.

Shares of LOAN opened at $3.80 on Thursday. The company’s 50-day moving average is $5.40 and its 200-day moving average is $6.08. The firm has a market capitalization of $33.15 million, a PE ratio of 8.09 and a beta of 0.45. Manhattan Bridge Capital Inc. has a fifty-two week low of $2.54 and a fifty-two week high of $6.73.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Tuesday, March 17th. The credit services provider reported $0.12 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $1.86 million for the quarter. Manhattan Bridge Capital had a net margin of 61.24% and a return on equity of 13.68%. As a group, sell-side analysts expect that Manhattan Bridge Capital Inc. will post 0.49 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, April 10th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 11.58%. The ex-dividend date is Wednesday, April 8th. Manhattan Bridge Capital’s payout ratio is 102.13%.

A number of large investors have recently added to or reduced their stakes in the stock. Capital Planning Advisors LLC boosted its stake in Manhattan Bridge Capital by 4.7% in the 4th quarter. Capital Planning Advisors LLC now owns 75,382 shares of the credit services provider’s stock valued at $75,000 after purchasing an additional 3,380 shares during the period. J.W. Cole Advisors Inc. acquired a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at about $303,000. Centric Wealth Management acquired a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at about $42,000. Csenge Advisory Group bought a new position in Manhattan Bridge Capital during the fourth quarter worth about $29,000. Finally, National Asset Management Inc. increased its position in Manhattan Bridge Capital by 20.7% during the fourth quarter. National Asset Management Inc. now owns 52,992 shares of the credit services provider’s stock worth $338,000 after acquiring an additional 9,093 shares during the period. 13.69% of the stock is owned by institutional investors and hedge funds.

LOAN has been the topic of a number of recent analyst reports. Aegis reissued a “hold” rating on shares of Manhattan Bridge Capital in a report on Monday, January 13th. ValuEngine downgraded Manhattan Bridge Capital from a “hold” rating to a “sell” rating in a report on Wednesday, March 4th.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.

Recommended Story: How to Invest in the Dividend Aristocrat Index

Receive News & Ratings for Manhattan Bridge Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manhattan Bridge Capital and related companies with MarketBeat.com's FREE daily email newsletter.