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

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

Manhattan Bridge Capital Stock Up 0.6 %

Shares of LOAN opened at $5.26 on Monday. The stock’s 50-day moving average price is $5.30 and its 200 day moving average price is $5.21. The firm has a market capitalization of $60.17 million, a price-to-earnings ratio of 10.52 and a beta of 0.58. Manhattan Bridge Capital has a 12-month low of $4.27 and a 12-month high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings data on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. The business had revenue of $2.44 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%.

Institutional Trading of Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. boosted its holdings in Manhattan Bridge Capital by 67.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after purchasing an additional 6,923 shares in the last quarter. Virtu Financial LLC bought a new stake in Manhattan Bridge Capital in the first quarter valued at $69,000. Waddell & Associates LLC grew its position in Manhattan Bridge Capital by 3.9% in the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after acquiring an additional 2,861 shares during the period. PDS Planning Inc acquired a new position in Manhattan Bridge Capital during the first quarter worth $499,000. Finally, Renaissance Technologies LLC lifted its holdings 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 acquiring an additional 21,950 shares during the period. Institutional investors own 21.84% of the company’s stock.

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.