Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report released on Saturday. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Trading Down 0.4 %

NASDAQ:LOAN opened at $5.31 on Friday. The stock’s 50-day moving average is $5.41 and its 200-day moving average is $5.29. The stock has a market cap of $60.75 million, a P/E ratio of 10.84 and a beta of 0.58. Manhattan Bridge Capital has a 1-year low of $4.43 and a 1-year high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Soltis Investment Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital in the third quarter valued at about $14,758,000. Geode Capital Management LLC boosted its stake in shares of Manhattan Bridge Capital by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after purchasing an additional 3,008 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in shares of Manhattan Bridge Capital by 53.4% in the 3rd 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. International Assets Investment Management LLC increased its position in shares of 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 worth $817,000 after buying an additional 119,595 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in Manhattan Bridge Capital by 35.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after buying an additional 6,117 shares during the last quarter. 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.