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

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

Manhattan Bridge Capital Stock Up 0.7 %

Manhattan Bridge Capital stock opened at $5.67 on Friday. Manhattan Bridge Capital has a 52-week low of $4.60 and a 52-week high of $5.90. The firm has a market cap of $64.86 million, a PE ratio of 11.57 and a beta of 0.55. The company’s 50 day moving average is $5.49 and its two-hundred day moving average is $5.39.

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

Institutional Trading of Manhattan Bridge Capital

A number of large investors have recently made changes to their positions in LOAN. Soltis Investment Advisors LLC purchased a new position in Manhattan Bridge Capital in the third quarter worth approximately $14,758,000. Renaissance Technologies LLC lifted its position in shares of Manhattan Bridge Capital by 13.3% during 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 last quarter. International Assets Investment Management LLC lifted its position in shares of Manhattan Bridge Capital by 441.5% during the 3rd 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 last quarter. Beese Fulmer Investment Management Inc. grew its stake in shares of Manhattan Bridge Capital by 53.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after buying an additional 3,008 shares during the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

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.