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

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

Manhattan Bridge Capital Stock Performance

NASDAQ:LOAN opened at $5.51 on Wednesday. The firm has a market cap of $63.03 million, a price-to-earnings ratio of 11.02 and a beta of 0.58. Manhattan Bridge Capital has a 52 week low of $4.27 and a 52 week high of $5.90. The firm’s 50-day simple moving average is $5.36 and its 200 day simple moving average is $5.24.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%.

Institutional Trading of Manhattan Bridge Capital

Institutional investors have recently modified their holdings of the stock. Riversedge Advisors LLC acquired 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 1st quarter worth approximately $69,000. B. Riley Wealth Advisors Inc. boosted 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 acquiring an additional 6,923 shares in the last quarter. Waddell & Associates LLC raised its position in Manhattan Bridge Capital by 3.9% during 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 in the last quarter. Finally, Beese Fulmer Investment Management Inc. bought a new stake in Manhattan Bridge Capital during the second quarter worth $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.