StockNews.com Initiates Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

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

Manhattan Bridge Capital Price Performance

Shares of Manhattan Bridge Capital stock opened at $5.58 on Thursday. The company has a market cap of $63.83 million, a PE ratio of 11.39 and a beta of 0.57. The firm has a fifty day moving average price of $5.46 and a two-hundred day moving average price of $5.36. Manhattan Bridge Capital has a fifty-two week low of $4.60 and a fifty-two week high of $5.90.

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, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The business had revenue of $2.31 million for the quarter.

Institutional Investors Weigh In On Manhattan Bridge Capital

Institutional investors and hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. boosted its position in shares of 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 acquiring an additional 6,117 shares in the last quarter. Waddell & Associates LLC lifted its stake in 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 worth $396,000 after purchasing an additional 2,861 shares during the period. Geode Capital Management LLC boosted its holdings in 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 valued at $635,000 after purchasing an additional 3,008 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its holdings in Manhattan Bridge Capital by 53.4% during the third 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 in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of 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.