Abacus Wealth Partners LLC Sells 4,273 Shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Abacus Wealth Partners LLC reduced its position in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 8.2% during the third quarter, Holdings Channel reports. The firm owned 47,852 shares of the credit services provider’s stock after selling 4,273 shares during the period. Abacus Wealth Partners LLC’s holdings in Manhattan Bridge Capital were worth $267,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Riversedge Advisors LLC bought a new position in shares of Manhattan Bridge Capital during the second quarter valued at about $68,000. Virtu Financial LLC bought a new position in shares of Manhattan Bridge Capital during the first quarter valued at about $69,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Manhattan Bridge Capital by 67.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after purchasing an additional 6,923 shares in the last quarter. North Star Investment Management Corp. bought a new position in shares of Manhattan Bridge Capital during the first quarter valued at about $234,000. Finally, Melia Wealth LLC bought a new position in shares of Manhattan Bridge Capital during the first quarter valued at about $315,000. 21.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Manhattan Bridge Capital in a report on Saturday, September 28th. They set a “strong-buy” rating for the company.

Manhattan Bridge Capital Stock Performance

NASDAQ LOAN opened at $5.59 on Friday. Manhattan Bridge Capital, Inc. has a 52-week low of $4.27 and a 52-week high of $5.69. The company has a 50-day simple moving average of $5.28 and a 200 day simple moving average of $5.18. The company has a market capitalization of $63.94 million, a PE ratio of 11.18 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%. The business had revenue of $2.44 million during the quarter.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 8th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.46 annualized dividend and a dividend yield of 8.23%. Manhattan Bridge Capital’s payout ratio is 92.00%.

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.