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

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

Manhattan Bridge Capital Trading Up 3.0 %

LOAN stock opened at $5.53 on Wednesday. The stock’s 50 day simple moving average is $5.43 and its 200 day simple moving average is $5.33. Manhattan Bridge Capital has a 12-month low of $4.60 and a 12-month high of $5.90. The firm has a market cap of $63.26 million, a P/E ratio of 11.29 and a beta of 0.57.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its 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. 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 during the quarter.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors have recently modified their holdings of LOAN. B. Riley Wealth Advisors Inc. boosted its stake in Manhattan Bridge Capital by 35.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after purchasing an additional 6,117 shares during the period. Waddell & Associates LLC raised its holdings in shares of Manhattan Bridge Capital by 3.9% during the second 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 last quarter. Geode Capital Management LLC boosted its position in shares of Manhattan Bridge Capital by 2.7% during the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after buying an additional 3,008 shares during the period. Beese Fulmer Investment Management Inc. grew its holdings in 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 worth $724,000 after buying an additional 45,222 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Manhattan Bridge Capital by 441.5% in the 3rd 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 in 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.