Beese Fulmer Investment Management Inc. Raises Stock Position in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Beese Fulmer Investment Management Inc. lifted its holdings in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 53.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,981 shares of the credit services provider’s stock after acquiring an additional 45,222 shares during the period. Beese Fulmer Investment Management Inc. owned 1.14% of Manhattan Bridge Capital worth $724,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in Manhattan Bridge Capital by 441.5% in the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after purchasing an additional 119,595 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Manhattan Bridge Capital by 35.7% in 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 boosted its position in shares of 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 acquiring an additional 21,950 shares during the last quarter. Waddell & Associates LLC grew its stake in Manhattan Bridge Capital by 3.9% during the second 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 in the last quarter. Finally, Riversedge Advisors LLC bought a new stake in Manhattan Bridge Capital in the 2nd quarter valued at $68,000. Institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Price Performance

Shares of LOAN opened at $5.35 on Thursday. The stock has a market capitalization of $61.20 million, a price-to-earnings ratio of 10.70 and a beta of 0.58. Manhattan Bridge Capital, Inc. has a 1 year low of $4.27 and a 1 year high of $5.90. The business’s 50 day simple moving average is $5.34 and its 200-day simple moving average is $5.23.

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

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 8th were issued a $0.115 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.60%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 92.00%.

Analysts Set New Price Targets

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

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.