StockNews.com Initiates Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report released on Tuesday. The firm set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

Shares of LOAN opened at $5.04 on Tuesday. The stock has a market capitalization of $57.65 million, a price-to-earnings ratio of 10.29 and a beta of 0.26. Manhattan Bridge Capital has a 52 week low of $4.74 and a 52 week high of $6.05. The stock has a fifty day moving average of $5.60 and a 200-day moving average of $5.53.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Wednesday, March 12th. The credit services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $2.36 million for the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Institutional Trading of Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently bought and sold shares of LOAN. Soltis Investment Advisors LLC acquired a new position in Manhattan Bridge Capital during the 3rd quarter worth about $14,758,000. Hardy Reed LLC lifted its stake in shares of Manhattan Bridge Capital by 7.8% in the fourth quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock worth $2,075,000 after acquiring an additional 26,733 shares during the period. Melia Wealth LLC boosted its holdings in Manhattan Bridge Capital by 3.0% in the fourth quarter. Melia Wealth LLC now owns 351,140 shares of the credit services provider’s stock valued at $1,966,000 after acquiring an additional 10,301 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in Manhattan Bridge Capital during the 4th quarter valued at approximately $1,684,000. Finally, Avant Financial Advisors LLC acquired a new stake in Manhattan Bridge Capital during the 4th quarter valued at approximately $1,626,000. 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.