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

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

Manhattan Bridge Capital Stock Performance

NASDAQ LOAN remained flat at $5.32 on Friday. 4,995 shares of the company traded hands, compared to its average volume of 20,673. Manhattan Bridge Capital has a 1-year low of $4.27 and a 1-year high of $5.90. The firm’s fifty day simple moving average is $5.40 and its 200 day simple moving average is $5.27. The company has a market cap of $60.86 million, a P/E ratio of 10.86 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The business 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 Investors Weigh In On Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Riversedge Advisors LLC bought a new position in Manhattan Bridge Capital in the second quarter valued at about $68,000. Virtu Financial LLC bought a new stake in shares of Manhattan Bridge Capital during the first quarter worth 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 valued at $82,000 after acquiring an additional 6,923 shares during the last quarter. Waddell & Associates LLC increased its holdings in Manhattan Bridge Capital by 3.9% in the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after purchasing an additional 2,861 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in shares of Manhattan Bridge Capital in the 2nd quarter valued at approximately $436,000. 21.84% of the stock is owned by institutional investors and hedge funds.

Manhattan Bridge Capital Company Profile

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.