Manhattan Bridge Capital (NASDAQ:LOAN) CEO Assaf Ran Acquires 8,000 Shares of Stock

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) CEO Assaf Ran acquired 8,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were acquired at an average price of $3.99 per share, for a total transaction of $31,920.00. Following the acquisition, the chief executive officer owned 1,235,000 shares of the company’s stock, valued at approximately $4,927,650. The trade was a 0.65% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Manhattan Bridge Capital Stock Performance

LOAN traded up $0.18 during midday trading on Tuesday, reaching $4.09. 57,462 shares of the company were exchanged, compared to its average volume of 30,186. The company’s fifty day moving average price is $4.32 and its 200 day moving average price is $4.40. The company has a market cap of $46.81 million, a price-to-earnings ratio of 9.75 and a beta of 0.14. Manhattan Bridge Capital, Inc has a one year low of $3.90 and a one year high of $5.80.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $2.04 million. Manhattan Bridge Capital had a return on equity of 11.02% and a net margin of 58.30%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Frazier Financial Advisors LLC raised its holdings in shares of Manhattan Bridge Capital by 156.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock worth $907,000 after purchasing an additional 124,229 shares during the period. Beese Fulmer Investment Management Inc. grew its holdings in Manhattan Bridge Capital by 200.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock valued at $1,597,000 after purchasing an additional 229,244 shares during the period. Apella Capital LLC purchased a new stake in Manhattan Bridge Capital in the fourth quarter worth $192,000. International Assets Investment Management LLC increased its position in Manhattan Bridge Capital by 8.8% in the fourth quarter. International Assets Investment Management LLC now owns 29,595 shares of the credit services provider’s stock worth $138,000 after buying an additional 2,384 shares during the last quarter. Finally, Melia Wealth LLC raised its stake in shares of Manhattan Bridge Capital by 2.6% in the fourth quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock valued at $2,082,000 after buying an additional 11,173 shares during the period. 21.84% of the stock is owned by institutional investors.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.