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

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

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock opened at $5.48 on Friday. The company has a market capitalization of $62.69 million, a PE ratio of 10.96 and a beta of 0.58. The company has a 50 day moving average price of $5.26 and a 200-day moving average price of $5.16. Manhattan Bridge Capital has a fifty-two week low of $4.27 and a fifty-two week high of $5.59.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The business had revenue of $2.44 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of institutional investors have recently added to or reduced their stakes in LOAN. Renaissance Technologies LLC boosted its stake in Manhattan Bridge Capital by 13.3% in the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after acquiring an additional 21,950 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Manhattan Bridge Capital by 24.7% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 141,494 shares of the credit services provider’s stock valued at $716,000 after purchasing an additional 28,048 shares during the last quarter. PDS Planning Inc acquired 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 Manhattan Bridge Capital during the 2nd quarter worth $436,000. Finally, Waddell & Associates LLC grew its stake in Manhattan Bridge Capital by 3.9% during the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after buying an additional 2,861 shares during the last quarter. 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.