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

StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report released on Friday morning. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Down 0.2 %

LOAN opened at $5.31 on Friday. The firm has a market capitalization of $60.74 million, a P/E ratio of 10.84 and a beta of 0.58. The stock has a fifty day moving average of $5.41 and a 200-day moving average of $5.27. 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 announced 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 firm 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%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Waddell & Associates LLC increased its stake in shares of 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 worth $396,000 after acquiring an additional 2,861 shares during the last quarter. Geode Capital Management LLC increased its position in 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 worth $635,000 after purchasing an additional 3,008 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Manhattan Bridge Capital by 35.7% during 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 in the last quarter. Riversedge Advisors LLC bought a new stake in shares of Manhattan Bridge Capital in the 2nd quarter valued at approximately $68,000. Finally, Virtu Financial LLC acquired a new position in Manhattan Bridge Capital in the first quarter worth approximately $69,000. Hedge funds and other 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.