Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Manhattan Bridge Capital Price Performance

Shares of LOAN stock remained flat at $5.38 on Thursday. 1,468 shares of the stock traded hands, compared to its average volume of 20,875. Manhattan Bridge Capital has a fifty-two week low of $4.27 and a fifty-two week high of $5.90. The stock has a market capitalization of $61.55 million, a price-to-earnings ratio of 10.98 and a beta of 0.58. The business has a 50-day simple moving average of $5.38 and a 200 day simple moving average of $5.26.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate 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%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several large investors have recently added to or reduced their stakes in LOAN. Riversedge Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the 2nd quarter valued at about $68,000. Virtu Financial LLC bought a new position in shares of Manhattan Bridge Capital during the first quarter valued at approximately $69,000. B. Riley Wealth Advisors Inc. raised its position in shares of Manhattan Bridge Capital by 67.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock worth $82,000 after purchasing an additional 6,923 shares during the period. Waddell & Associates LLC lifted its holdings in shares of 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 during the last quarter. Finally, Beese Fulmer Investment Management Inc. acquired a new position in Manhattan Bridge Capital during the 2nd quarter valued at approximately $436,000. 21.84% of the stock is currently 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.