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

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

Manhattan Bridge Capital Stock Down 0.8 %

LOAN opened at $5.61 on Tuesday. The company’s 50-day moving average price is $5.42 and its 200 day moving average price is $5.32. Manhattan Bridge Capital has a fifty-two week low of $4.60 and a fifty-two week high of $5.90. The firm has a market cap of $64.12 million, a price-to-earnings ratio of 11.44 and a beta of 0.57.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Soltis Investment Advisors LLC bought a new stake in Manhattan Bridge Capital during the third quarter worth approximately $14,758,000. Renaissance Technologies LLC raised its holdings 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 worth $963,000 after purchasing an additional 21,950 shares in the last quarter. International Assets Investment Management LLC raised its holdings in 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. Beese Fulmer Investment Management Inc. raised its holdings in Manhattan Bridge Capital by 53.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Manhattan Bridge Capital by 2.7% during the third 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 in the last quarter. 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.