StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN – Free Report) in a report published on Saturday morning. The brokerage issued a strong-buy rating on the credit services provider’s stock.
Manhattan Bridge Capital Price Performance
Manhattan Bridge Capital stock opened at $5.48 on Friday. The business has a 50 day moving average of $5.26 and a 200-day moving average of $5.16. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.59. The company has a market capitalization of $62.69 million, a P/E ratio of 10.96 and a beta of 0.58.
Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last released its quarterly earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%. The firm had revenue of $2.44 million during the quarter.
Manhattan Bridge Capital Announces Dividend
Institutional Trading of Manhattan Bridge Capital
Several institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. lifted its position in shares of Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after purchasing an additional 6,117 shares during the period. Renaissance Technologies LLC boosted its position 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 acquiring an additional 21,950 shares during the last quarter. Waddell & Associates LLC grew its holdings in Manhattan Bridge Capital by 3.9% during the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after acquiring an additional 2,861 shares during the period. Riversedge Advisors LLC bought a new position in shares of Manhattan Bridge Capital in the 2nd quarter worth about $68,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in shares of Manhattan Bridge Capital in the 2nd quarter valued at about $436,000. 21.84% of the stock is currently 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.
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