StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN – Free Report) in a research note released on Wednesday. The firm issued a strong-buy rating on the credit services provider’s stock.
Manhattan Bridge Capital Price Performance
Shares of LOAN opened at $5.20 on Wednesday. The firm has a 50 day simple moving average of $5.26 and a two-hundred day simple moving average of $5.10. Manhattan Bridge Capital has a one year low of $4.27 and a one year high of $5.59. The company has a market cap of $59.48 million, a P/E ratio of 10.40 and a beta of 0.59.
Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last announced its quarterly earnings data on Monday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%. The business had revenue of $2.44 million during the quarter.
Manhattan Bridge Capital Announces Dividend
Institutional Trading of Manhattan Bridge Capital
Hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI boosted its holdings in shares of Manhattan Bridge Capital by 195.0% during the 4th quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock valued at $28,000 after acquiring an additional 3,900 shares in the last quarter. Riversedge Advisors LLC bought a new position in Manhattan Bridge Capital in the 2nd quarter valued at approximately $68,000. Virtu Financial LLC acquired a new stake in Manhattan Bridge Capital during the 1st quarter worth approximately $69,000. B. Riley Wealth Advisors Inc. grew its holdings in 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 acquiring an additional 6,923 shares during the last quarter. Finally, Frazier Financial Advisors LLC acquired a new position in Manhattan Bridge Capital in the 4th quarter valued at approximately $206,000. 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.
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