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

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

Manhattan Bridge Capital Price Performance

LOAN stock opened at $5.60 on Thursday. The firm has a 50 day simple moving average of $5.45 and a two-hundred day simple moving average of $5.35. The stock has a market cap of $64.06 million, a PE ratio of 11.43 and a beta of 0.57. Manhattan Bridge Capital has a one year low of $4.60 and a one year high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 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 firm had revenue of $2.31 million for the quarter.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors have recently bought and sold shares of the stock. Waddell & Associates LLC increased its holdings in shares of 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 acquiring an additional 2,861 shares in the last quarter. Renaissance Technologies LLC raised its holdings in 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 purchasing an additional 21,950 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Manhattan Bridge Capital by 35.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after buying an additional 6,117 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Manhattan Bridge Capital by 441.5% in the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after purchasing an additional 119,595 shares during the period. Finally, Beese Fulmer Investment Management Inc. increased its stake in Manhattan Bridge Capital by 53.4% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after buying an additional 45,222 shares in the last quarter. 21.84% of the stock is 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.