Manhattan Bridge Capital (NASDAQ:LOAN) Coverage Initiated by Analysts at StockNews.com

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

Manhattan Bridge Capital Price Performance

Shares of NASDAQ:LOAN opened at $5.70 on Wednesday. The company has a market capitalization of $65.20 million, a PE ratio of 11.63 and a beta of 0.57. Manhattan Bridge Capital has a 1-year low of $4.60 and a 1-year high of $5.90. The business has a fifty day moving average price of $5.44 and a 200-day moving average price of $5.33.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $2.31 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Waddell & Associates LLC increased its stake 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 in the last quarter. Geode Capital Management LLC grew 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 purchasing an additional 3,008 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings 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 buying an additional 6,117 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Manhattan Bridge Capital by 13.3% in the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after acquiring an additional 21,950 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. increased its holdings in shares of Manhattan Bridge Capital by 53.4% in the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares during the last quarter. 21.84% of the stock is owned by hedge funds and other institutional investors.

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.