Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) announced a common stock repurchase plan allowing the buyback of up to 100,000 common shares.
The repurchase plan permits transactions at prevailing prices over the next twelve months.
The decision is based on the company's confidence in its business and future prospects.
Stock Repurchase Plan
Authorized to buy back up to 100,000 common shares.
Company's Confidence
Reflects confidence in business, low leverage, and management commitment.
Timing and Discretion
Shares purchase timing and number will be at the company's discretion.
- The buy-back announcement is a strategic move to capitalize on a recent stock price decline.
- It signals management's optimism in the company's performance and value.
- May lead to increased investor confidence and potential stock price stability.
The stock repurchase plan highlights Manhattan Bridge Capital's commitment to enhancing shareholder value and confidence in its future outlook.