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

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

Manhattan Bridge Capital Trading Down 1.1 %

Shares of LOAN stock opened at $5.45 on Friday. The company has a market capitalization of $62.34 million, a P/E ratio of 11.12 and a beta of 0.55. Manhattan Bridge Capital has a 12 month low of $4.60 and a 12 month high of $5.90. The stock has a 50 day moving average of $5.47 and a two-hundred day moving average of $5.37.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of institutional investors have recently added to or reduced their stakes in LOAN. B. Riley Wealth Advisors Inc. raised its holdings in shares of 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 buying an additional 6,117 shares in the last quarter. Geode Capital Management LLC grew its position in Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after acquiring an additional 3,008 shares during the period. Beese Fulmer Investment Management Inc. grew its position in 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 valued at $724,000 after acquiring an additional 45,222 shares during the period. International Assets Investment Management LLC raised its stake in 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 worth $817,000 after acquiring an additional 119,595 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Manhattan Bridge Capital by 13.3% during the second 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 period. 21.84% of the stock is owned by institutional investors and hedge funds.

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.