Manhattan Bridge Capital, Inc. announced that its Board of Directors has authorized a share repurchase program that allows the company to buy back up to 100,000 common shares over the next twelve months, with the timing, amount, and method left to management’s discretion.
The board’s decision follows a similar buyback authorization in April 2023, a pattern the company has used whenever the stock price falls below what it considers intrinsic value. The current decline—its 52‑week low of $4.65 versus a high of $6.05—provides the backdrop for the new program.
Manhattan Bridge Capital’s core business is short‑term, secured “hard‑money” loans to real‑estate investors in the New York metropolitan area and Florida. Its conservative, low‑leverage model helped it navigate the 2024 high‑interest‑rate environment and deliver record net income and revenue in 2022, a performance that has earned it a reputation for resilience in a volatile market.
CEO Assaf Ran said the recent dramatic decline in the stock price creates an opportunity to purchase shares at attractive prices. He highlighted the company’s extraordinary low leverage, the personal commitment of management, and its track record of strong performance even in troubled times as the basis for confidence in the buyback program.
Insider activity added further confidence: on November 19, director Lyron Bentovim purchased 1,757 shares, a move that coincided with the announcement and signals internal belief in the company’s prospects.
The discretionary nature of the program allows Manhattan Bridge Capital to return value to shareholders while preserving flexibility to respond to market conditions. The board’s action signals management’s conviction that the stock is undervalued and that the company’s financial position remains robust.
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