Manhattan Bridge Capital (NASDAQ:LOAN) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Manhattan Bridge Capital (NASDAQ:LOAN) posted its earnings results on Friday. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01), Zacks reports. Manhattan Bridge Capital had a return on equity of 12.68% and a net margin of 59.04%.The firm had revenue of $2.04 million for the quarter.

Manhattan Bridge Capital Stock Performance

NASDAQ:LOAN opened at $5.22 on Friday. The stock has a 50-day simple moving average of $5.37 and a 200-day simple moving average of $5.32. The stock has a market cap of $59.72 million, a P/E ratio of 11.35 and a beta of 0.37. Manhattan Bridge Capital has a 1 year low of $4.74 and a 1 year high of $6.05.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Manhattan Bridge Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Manhattan Bridge Capital stock. Osaic Holdings Inc. raised its holdings in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) by 140.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,632 shares of the credit services provider’s stock after acquiring an additional 3,292 shares during the quarter. Osaic Holdings Inc.’s holdings in Manhattan Bridge Capital were worth $31,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 21.84% of the company’s stock.

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.