Soltis Investment Advisors LLC Buys Shares of 2,649,589 Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Soltis Investment Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,649,589 shares of the credit services provider’s stock, valued at approximately $14,758,000. Manhattan Bridge Capital accounts for approximately 1.4% of Soltis Investment Advisors LLC’s investment portfolio, making the stock its 12th largest holding. Soltis Investment Advisors LLC owned approximately 23.16% of Manhattan Bridge Capital at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LOAN. Riversedge Advisors LLC acquired a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $68,000. Waddell & Associates LLC raised its stake in shares of 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 worth $396,000 after buying an additional 2,861 shares in the last quarter. Renaissance Technologies LLC raised its position in Manhattan Bridge Capital by 13.3% in the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after acquiring an additional 21,950 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Manhattan Bridge Capital by 35.7% in 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 acquiring an additional 6,117 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Manhattan Bridge Capital by 441.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after purchasing an additional 119,595 shares in the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Manhattan Bridge Capital in a report on Monday. They issued a “strong-buy” rating on the stock.

Manhattan Bridge Capital Price Performance

NASDAQ LOAN opened at $5.55 on Wednesday. The firm has a market capitalization of $63.49 million, a price-to-earnings ratio of 11.33 and a beta of 0.57. The company has a 50 day simple moving average of $5.42 and a 200-day simple moving average of $5.31. Manhattan Bridge Capital, Inc. has a 52-week low of $4.60 and a 52-week high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The firm had revenue of $2.31 million during the quarter.

Manhattan Bridge Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.46 annualized dividend and a yield of 8.29%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 93.88%.

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. 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.