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

Investment analysts at StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report issued to clients and investors on Saturday. The firm set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

Shares of LOAN stock opened at $5.33 on Friday. The firm’s 50-day moving average is $5.41 and its two-hundred day moving average is $5.28. Manhattan Bridge Capital has a 12 month low of $4.27 and a 12 month high of $5.90. The company has a market capitalization of $60.98 million, a PE ratio of 10.88 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The company had revenue of $2.31 million for the quarter.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Manhattan Bridge Capital by 441.5% during the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after acquiring an additional 119,595 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Manhattan Bridge Capital by 67.8% in 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 during the last quarter. Virtu Financial LLC acquired a new position in shares of Manhattan Bridge Capital in the 1st quarter worth approximately $69,000. Waddell & Associates LLC lifted 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 worth $396,000 after acquiring an additional 2,861 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of 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 worth $963,000 after acquiring an additional 21,950 shares during the last quarter. 21.84% of the stock is 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.