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

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

Manhattan Bridge Capital Stock Performance

Shares of NASDAQ:LOAN opened at $5.49 on Tuesday. Manhattan Bridge Capital has a one year low of $4.27 and a one year high of $5.90. The stock has a market capitalization of $62.80 million, a price-to-earnings ratio of 10.98 and a beta of 0.58. The company has a 50-day simple moving average of $5.33 and a 200-day simple moving average of $5.23.

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

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its stake in shares of Manhattan Bridge Capital by 67.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock worth $82,000 after acquiring an additional 6,923 shares during the period. Virtu Financial LLC acquired a new stake in shares of Manhattan Bridge Capital in the 1st quarter valued at approximately $69,000. Waddell & Associates LLC boosted its stake in shares of 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 buying an additional 2,861 shares in the last quarter. PDS Planning Inc acquired a new position in Manhattan Bridge Capital during the first quarter worth $499,000. Finally, Renaissance Technologies LLC raised its position in Manhattan Bridge Capital by 13.3% in the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after acquiring an additional 21,950 shares in the last quarter. 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.