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

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

Manhattan Bridge Capital Price Performance

LOAN stock opened at $5.33 on Friday. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.90. The company has a market cap of $60.97 million, a P/E ratio of 10.88 and a beta of 0.58. The firm has a 50-day moving average of $5.41 and a 200 day moving average of $5.28.

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

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors and hedge funds have recently made changes to their positions in the business. Riversedge Advisors LLC bought a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $68,000. Virtu Financial LLC bought a new position in shares of Manhattan Bridge Capital during the first quarter valued at approximately $69,000. B. Riley Wealth Advisors Inc. increased its stake 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 purchasing an additional 6,923 shares in the last quarter. Waddell & Associates LLC increased its stake in shares of Manhattan Bridge Capital by 3.9% during the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after purchasing an additional 2,861 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. bought a new position in shares of Manhattan Bridge Capital during the second quarter valued at approximately $436,000. Institutional investors 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.