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

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

Manhattan Bridge Capital Trading Down 1.6 %

Shares of LOAN stock opened at $5.53 on Friday. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90. The stock has a market cap of $63.26 million, a P/E ratio of 11.29 and a beta of 0.55. The stock has a 50 day moving average of $5.51 and a 200 day moving average of $5.40.

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

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of large investors have recently bought and sold shares of LOAN. Geode Capital Management LLC increased its position in shares of 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 in the last quarter. Soltis Investment Advisors LLC acquired a new stake in Manhattan Bridge Capital in the 3rd quarter valued at $14,758,000. International Assets Investment Management LLC increased its holdings in Manhattan Bridge Capital by 441.5% in the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after acquiring an additional 119,595 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Manhattan Bridge Capital by 35.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after acquiring an additional 6,117 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Manhattan Bridge Capital by 13.3% during the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after purchasing an additional 21,950 shares in the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

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.