Atria Wealth Solutions Inc. Boosts Stake in Manhattan Bridge Capital, Inc $LOAN

Atria Wealth Solutions Inc. raised its holdings in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) by 57.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 39,871 shares of the credit services provider’s stock after acquiring an additional 14,513 shares during the period. Atria Wealth Solutions Inc.’s holdings in Manhattan Bridge Capital were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LOAN. Kingsview Wealth Management LLC purchased a new position in Manhattan Bridge Capital during the first quarter worth about $121,000. Chicago Partners Investment Group LLC purchased a new position in shares of Manhattan Bridge Capital in the 1st quarter worth about $296,000. OLIO Financial Planning boosted its holdings in shares of Manhattan Bridge Capital by 196.3% in the 2nd quarter. OLIO Financial Planning now owns 72,798 shares of the credit services provider’s stock worth $398,000 after purchasing an additional 48,230 shares in the last quarter. Melia Wealth LLC boosted its holdings in shares of Manhattan Bridge Capital by 2.8% in the 1st quarter. Melia Wealth LLC now owns 360,918 shares of the credit services provider’s stock worth $2,133,000 after purchasing an additional 9,778 shares in the last quarter. Finally, Hardy Reed LLC boosted its holdings in shares of Manhattan Bridge Capital by 4.3% in the 1st quarter. Hardy Reed LLC now owns 386,259 shares of the credit services provider’s stock worth $2,283,000 after purchasing an additional 15,760 shares in the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Manhattan Bridge Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Manhattan Bridge Capital presently has an average rating of “Buy”.

Manhattan Bridge Capital Stock Performance

NASDAQ LOAN opened at $5.24 on Thursday. Manhattan Bridge Capital, Inc has a 1-year low of $4.74 and a 1-year high of $6.05. The stock has a 50-day moving average of $5.38 and a 200-day moving average of $5.31. The firm has a market cap of $59.95 million, a PE ratio of 11.15 and a beta of 0.37.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Tuesday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 12.68% and a net margin of 59.04%.The company had revenue of $2.36 million during the quarter.

Manhattan Bridge Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend was Wednesday, October 8th. Manhattan Bridge Capital’s payout ratio is 97.87%.

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.