Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report issued on Friday. The brokerage set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Down 1.6 %

NASDAQ:LOAN opened at $5.32 on Friday. The business’s 50-day simple moving average is $5.40 and its two-hundred day simple moving average is $5.27. Manhattan Bridge Capital has a 52 week low of $4.27 and a 52 week high of $5.90. The stock has a market cap of $60.86 million, a PE ratio of 10.86 and a beta of 0.58.

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

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of hedge funds and other institutional investors have recently modified their holdings of LOAN. Renaissance Technologies LLC increased 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 valued at $963,000 after acquiring an additional 21,950 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Manhattan Bridge Capital by 441.5% during the third 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 in the last quarter. Beese Fulmer Investment Management Inc. increased its holdings in shares of Manhattan Bridge Capital by 53.4% in the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares during the last quarter. Waddell & Associates LLC lifted 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 worth $396,000 after buying an additional 2,861 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Manhattan Bridge Capital by 35.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after buying an additional 6,117 shares in the last quarter. 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.