Hardy Reed LLC Has $2.08 Million Stock Position in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Hardy Reed LLC increased its position in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 370,499 shares of the credit services provider’s stock after buying an additional 26,733 shares during the quarter. Hardy Reed LLC owned about 3.24% of Manhattan Bridge Capital worth $2,075,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LOAN. International Assets Investment Management LLC raised its stake in 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 worth $817,000 after buying an additional 119,595 shares during the period. Beese Fulmer Investment Management Inc. raised its stake in Manhattan Bridge Capital by 53.4% during the 3rd 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 during the period. Geode Capital Management LLC raised its stake in Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after buying an additional 3,008 shares during the period. Soltis Investment Advisors LLC acquired a new position in Manhattan Bridge Capital during the 3rd quarter worth approximately $14,758,000. Finally, OLIO Financial Planning acquired a new position in Manhattan Bridge Capital during the 4th quarter worth approximately $117,000. 21.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Manhattan Bridge Capital in a research note on Wednesday. They issued a “strong-buy” rating for the company.

Manhattan Bridge Capital Stock Up 0.4 %

Shares of Manhattan Bridge Capital stock opened at $5.62 on Thursday. The company has a market cap of $64.29 million, a PE ratio of 11.47 and a beta of 0.55. Manhattan Bridge Capital, Inc. has a 52 week low of $4.60 and a 52 week high of $5.90. The business has a 50 day moving average price of $5.60 and a 200-day moving average price of $5.44.

Manhattan Bridge Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 8.19%. The ex-dividend date is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 93.88%.

About Manhattan Bridge Capital

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.