Soltis Investment Advisors LLC Takes $14.76 Million Position in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Soltis Investment Advisors LLC purchased a new stake in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 2,649,589 shares of the credit services provider’s stock, valued at approximately $14,758,000. Manhattan Bridge Capital comprises about 1.4% of Soltis Investment Advisors LLC’s holdings, making the stock its 12th biggest position. Soltis Investment Advisors LLC owned about 0.23% of Manhattan Bridge Capital at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riversedge Advisors LLC acquired a new position in Manhattan Bridge Capital in the second quarter valued at about $68,000. B. Riley Wealth Advisors Inc. grew its holdings in shares of Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after buying an additional 6,117 shares during the period. Waddell & Associates LLC increased its position in shares of Manhattan Bridge Capital by 3.9% in the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after buying an additional 2,861 shares in the last quarter. 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. Finally, Beese Fulmer Investment Management Inc. lifted its holdings in Manhattan Bridge Capital by 53.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after acquiring an additional 45,222 shares in the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Bridge Capital Stock Up 0.9 %

NASDAQ:LOAN opened at $5.55 on Wednesday. The company has a market cap of $63.49 million, a P/E ratio of 11.33 and a beta of 0.57. Manhattan Bridge Capital, Inc. has a twelve month low of $4.60 and a twelve month high of $5.90. The business has a 50 day moving average price of $5.42 and a two-hundred day moving average price of $5.31.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $2.31 million during the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date of this dividend is Tuesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 93.88%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Manhattan Bridge Capital in a research report on Monday. They set a “strong-buy” rating on the stock.

Manhattan Bridge Capital 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.