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

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

Manhattan Bridge Capital Trading Up 0.4 %

Shares of NASDAQ:LOAN opened at $5.38 on Thursday. The company’s 50 day moving average is $5.37 and its 200 day moving average is $5.26. The company has a market cap of $61.54 million, a PE ratio of 10.98 and a beta of 0.58. 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 announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $2.31 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riversedge Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital in the second quarter worth approximately $68,000. Virtu Financial LLC acquired a new stake in shares of Manhattan Bridge Capital during the 1st quarter worth approximately $69,000. B. Riley Wealth Advisors Inc. raised its position in Manhattan Bridge Capital by 67.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after purchasing an additional 6,923 shares during the period. Waddell & Associates LLC raised its holdings in Manhattan Bridge Capital by 3.9% in the 2nd 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 period. Finally, Beese Fulmer Investment Management Inc. acquired a new position in shares of Manhattan Bridge Capital in the 2nd quarter worth approximately $436,000. Hedge funds and other 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.