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

Analysts at StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report released on Saturday. The brokerage 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 stock has a 50-day simple moving average of $5.26 and a 200 day simple moving average of $5.17. The stock has a market capitalization of $62.69 million, a P/E ratio of 10.96 and a beta of 0.58. Manhattan Bridge Capital has a 52 week low of $4.27 and a 52 week high of $5.59.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its earnings results on Monday, July 22nd. 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 13.20% and a net margin of 56.72%. The business had revenue of $2.44 million for the quarter.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently made changes to their positions in LOAN. Waddell & Associates LLC raised its stake 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 worth $396,000 after purchasing an additional 2,861 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Manhattan Bridge Capital by 35.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after buying an additional 6,117 shares in the last quarter. Riversedge Advisors LLC bought a new stake in shares of Manhattan Bridge Capital in the second quarter valued at approximately $68,000. Virtu Financial LLC acquired a new stake in Manhattan Bridge Capital during the first quarter worth approximately $69,000. Finally, Renaissance Technologies LLC grew its position in Manhattan Bridge Capital by 13.3% during the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after buying an additional 21,950 shares in the last quarter. Institutional investors and hedge funds 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.