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

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

Manhattan Bridge Capital Trading Down 0.2 %

NASDAQ LOAN opened at $5.31 on Friday. The company has a market cap of $60.74 million, a P/E ratio of 10.84 and a beta of 0.58. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.90. The company has a fifty day simple moving average of $5.41 and a 200 day simple moving average of $5.27.

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, meeting analysts’ consensus estimates of $0.12. The company had revenue of $2.31 million during the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Riversedge Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital in the second quarter worth $68,000. Virtu Financial LLC acquired a new stake in Manhattan Bridge Capital in the 1st quarter worth $69,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of Manhattan Bridge Capital by 67.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock worth $82,000 after purchasing an additional 6,923 shares during the period. Waddell & Associates LLC raised its position 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 buying an additional 2,861 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. bought a new stake in shares of Manhattan Bridge Capital in the second quarter valued at about $436,000. 21.84% of the stock is owned by 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.