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

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

Manhattan Bridge Capital Price Performance

Shares of LOAN opened at $5.73 on Friday. Manhattan Bridge Capital has a one year low of $4.27 and a one year high of $5.75. The company has a market cap of $65.55 million, a P/E ratio of 11.46 and a beta of 0.58. The firm has a 50 day simple moving average of $5.30 and a two-hundred day simple moving average of $5.19.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $2.44 million during the quarter. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LOAN. PDS Planning Inc acquired a new position in shares of Manhattan Bridge Capital during the first quarter worth $499,000. Beese Fulmer Investment Management Inc. bought a new stake in shares of Manhattan Bridge Capital in the second quarter worth $436,000. Melia Wealth LLC bought a new stake in shares of Manhattan Bridge Capital in the first quarter worth $315,000. North Star Investment Management Corp. bought a new stake in shares of Manhattan Bridge Capital in the first quarter worth $234,000. Finally, Abacus Wealth Partners LLC grew its stake in shares of Manhattan Bridge Capital by 288.7% in the first quarter. Abacus Wealth Partners LLC now owns 56,216 shares of the credit services provider’s stock worth $284,000 after purchasing an additional 41,752 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.