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

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

Manhattan Bridge Capital Stock Performance

Shares of LOAN opened at $5.61 on Tuesday. The stock has a fifty day moving average of $5.42 and a two-hundred day moving average of $5.32. The company has a market capitalization of $64.12 million, a PE ratio of 11.44 and a beta of 0.57. Manhattan Bridge Capital has a fifty-two week low of $4.60 and a fifty-two week 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 analysts’ consensus estimates of $0.12. The business had revenue of $2.31 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOAN. Soltis Investment Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital in the 3rd quarter valued at about $14,758,000. Renaissance Technologies LLC raised its stake 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 valued at $963,000 after purchasing an additional 21,950 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 valued at $817,000 after purchasing an additional 119,595 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its stake in shares of 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 valued at $724,000 after purchasing an additional 45,222 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Manhattan Bridge Capital by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after purchasing an additional 3,008 shares in 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.