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

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

Manhattan Bridge Capital Trading Up 0.7 %

Shares of NASDAQ:LOAN opened at $5.67 on Friday. The firm has a 50 day simple moving average of $5.49 and a 200-day simple moving average of $5.39. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90. The company has a market capitalization of $64.86 million, a PE ratio of 11.57 and a beta of 0.55.

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

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased 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 valued at $120,000 after acquiring an additional 6,117 shares during the period. Geode Capital Management LLC boosted its stake in Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after purchasing an additional 3,008 shares during the period. Beese Fulmer Investment Management Inc. grew its position in Manhattan Bridge Capital by 53.4% during the 3rd 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. International Assets Investment Management LLC increased its stake in Manhattan Bridge Capital by 441.5% in 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 during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Manhattan Bridge Capital by 13.3% in the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after buying an additional 21,950 shares during the last quarter. 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.