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

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

Manhattan Bridge Capital Stock Down 1.1 %

Shares of LOAN opened at $5.45 on Friday. Manhattan Bridge Capital has a 12 month low of $4.60 and a 12 month high of $5.90. The company’s fifty day moving average is $5.47 and its 200-day moving average is $5.37. The firm has a market cap of $62.34 million, a price-to-earnings ratio of 11.12 and a beta of 0.55.

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

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of institutional investors have recently modified their holdings of the company. Soltis Investment Advisors LLC bought a new stake in shares of Manhattan Bridge Capital during the 3rd quarter worth $14,758,000. Renaissance Technologies LLC lifted its position in Manhattan Bridge Capital by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after acquiring an additional 21,950 shares during the last quarter. International Assets Investment Management LLC boosted its holdings 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 valued at $817,000 after acquiring an additional 119,595 shares during the period. Beese Fulmer Investment Management Inc. grew its position in shares of 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 purchasing an additional 45,222 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of 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 worth $635,000 after purchasing an additional 3,008 shares during the period. 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.