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

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

Manhattan Bridge Capital Price Performance

Manhattan Bridge Capital stock opened at $5.51 on Friday. The firm has a market capitalization of $63.03 million, a P/E ratio of 11.24 and a beta of 0.55. The stock has a fifty day moving average price of $5.47 and a two-hundred day moving average price of $5.37. Manhattan Bridge Capital has a 52-week low of $4.60 and a 52-week high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (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 net margin of 56.93% and a return on equity of 13.06%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors have recently bought and sold shares of LOAN. B. Riley Wealth Advisors Inc. increased its stake in shares of Manhattan Bridge Capital by 35.7% in the second 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. Geode Capital Management LLC grew its holdings in Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after acquiring an additional 3,008 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its stake in shares of Manhattan Bridge Capital by 53.4% in the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after acquiring an additional 45,222 shares during the last quarter. International Assets Investment Management LLC lifted 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 worth $817,000 after purchasing an additional 119,595 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of 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 during the last quarter. Institutional investors 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.