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

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

Manhattan Bridge Capital Stock Performance

LOAN stock opened at $5.32 on Friday. The stock’s fifty day moving average is $5.40 and its two-hundred day moving average is $5.27. The stock has a market capitalization of $60.86 million, a price-to-earnings ratio of 10.86 and a beta of 0.58. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The business had revenue of $2.31 million during the quarter.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Riversedge Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital in the second quarter worth $68,000. Virtu Financial LLC acquired a new stake in Manhattan Bridge Capital during the 1st quarter worth about $69,000. B. Riley Wealth Advisors Inc. grew its stake in 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 in the last quarter. Waddell & Associates LLC increased its holdings 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 valued at $396,000 after purchasing an additional 2,861 shares during the period. Finally, Beese Fulmer Investment Management Inc. purchased a new stake in shares of Manhattan Bridge Capital in the second quarter worth approximately $436,000. 21.84% of the stock is currently owned by hedge funds and other 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.