Manhattan Bridge Capital (NASDAQ:LOAN) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued to investors on Thursday. The brokerage set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

Shares of NASDAQ LOAN opened at $5.58 on Thursday. Manhattan Bridge Capital has a one year low of $4.60 and a one year high of $5.90. The business’s 50-day moving average price is $5.46 and its two-hundred day moving average price is $5.36. The company has a market capitalization of $63.83 million, a P/E ratio of 11.39 and a beta of 0.57.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $2.31 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Waddell & Associates LLC raised its position in shares of Manhattan Bridge Capital by 3.9% in the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after purchasing an additional 2,861 shares during the period. Renaissance Technologies LLC raised its holdings in Manhattan Bridge Capital by 13.3% in the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after acquiring an additional 21,950 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in 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 worth $120,000 after acquiring an additional 6,117 shares during the period. International Assets Investment Management LLC lifted its position in Manhattan Bridge Capital by 441.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after acquiring an additional 119,595 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted 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 valued at $724,000 after acquiring an additional 45,222 shares during the period. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.