Hardy Reed LLC Acquires 26,733 Shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Hardy Reed LLC increased its holdings in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 370,499 shares of the credit services provider’s stock after buying an additional 26,733 shares during the period. Hardy Reed LLC’s holdings in Manhattan Bridge Capital were worth $2,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of LOAN. OLIO Financial Planning bought a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at approximately $117,000. Atria Wealth Solutions Inc. grew its holdings in Manhattan Bridge Capital by 13.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock valued at $159,000 after purchasing an additional 3,324 shares during the period. Capital Management Associates Inc bought a new position in Manhattan Bridge Capital during the fourth quarter valued at $184,000. Geode Capital Management LLC grew its holdings in Manhattan Bridge Capital by 2.7% during the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after purchasing an additional 3,008 shares during the period. Finally, Fortress Financial Solutions LLC bought a new position in Manhattan Bridge Capital during the fourth quarter valued at $685,000. 21.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Manhattan Bridge Capital Trading Up 0.4 %

Shares of NASDAQ LOAN opened at $5.62 on Thursday. The stock has a fifty day simple moving average of $5.60 and a two-hundred day simple moving average of $5.44. Manhattan Bridge Capital, Inc. has a 1-year low of $4.60 and a 1-year high of $5.90. The firm has a market cap of $64.29 million, a price-to-earnings ratio of 11.47 and a beta of 0.55.

Manhattan Bridge Capital Announces Dividend

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