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

Investment analysts at StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report issued on Sunday. The firm set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Up 1.2 %

LOAN stock opened at $5.43 on Friday. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90. The company has a market cap of $62.06 million, a PE ratio of 11.07 and a beta of 0.58. The business’s 50-day simple moving average is $5.42 and its 200 day simple moving average is $5.29.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced 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 return on equity of 13.06% and a net margin of 56.93%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in shares of Manhattan Bridge Capital by 441.5% in the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after purchasing an additional 119,595 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Manhattan Bridge Capital by 67.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after acquiring an additional 6,923 shares during the period. Virtu Financial LLC acquired a new stake in shares of Manhattan Bridge Capital in the 1st quarter valued at $69,000. Waddell & Associates LLC grew its holdings 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 worth $396,000 after purchasing an additional 2,861 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Manhattan Bridge Capital by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after purchasing an additional 21,950 shares in the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Company 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.