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

StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report sent to investors on Wednesday morning. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Down 2.4 %

Manhattan Bridge Capital stock opened at $5.29 on Wednesday. The company has a market capitalization of $60.51 million, a P/E ratio of 10.80 and a beta of 0.58. The stock’s 50 day moving average is $5.37 and its 200 day moving average is $5.25. Manhattan Bridge Capital has a twelve month low of $4.27 and a twelve month high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its 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 return on equity of 13.06% and a net margin of 56.93%. The business had revenue of $2.31 million for the quarter.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings 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 buying an additional 119,595 shares during the last quarter. PDS Planning Inc bought a new stake in shares of Manhattan Bridge Capital in the 1st quarter worth $499,000. Beese Fulmer Investment Management Inc. purchased a new position in shares of Manhattan Bridge Capital in the second quarter worth $436,000. Pinnacle Wealth Planning Services Inc. increased its holdings in Manhattan Bridge Capital by 24.7% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 141,494 shares of the credit services provider’s stock worth $716,000 after buying an additional 28,048 shares in the last quarter. Finally, 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 worth $963,000 after buying an additional 21,950 shares in the last quarter. 21.84% of the stock is owned by hedge funds and other institutional investors.

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.