Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report issued to clients and investors on Thursday. The brokerage set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

NASDAQ LOAN opened at $5.60 on Thursday. The company has a market cap of $64.06 million, a P/E ratio of 11.43 and a beta of 0.57. The business’s 50 day moving average price is $5.45 and its 200-day moving average price is $5.35. Manhattan Bridge Capital has a fifty-two week low of $4.60 and a fifty-two 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 for the quarter, meeting the consensus estimate of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The business had revenue of $2.31 million for the quarter.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. boosted its stake in shares of Manhattan Bridge Capital by 35.7% during 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 purchasing an additional 6,117 shares during the period. Waddell & Associates LLC increased its stake in Manhattan Bridge Capital by 3.9% in the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after buying an additional 2,861 shares during the period. Geode Capital Management LLC boosted 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 valued at $635,000 after buying an additional 3,008 shares during the period. Beese Fulmer Investment Management Inc. grew its stake in Manhattan Bridge Capital by 53.4% in the 3rd 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 in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Manhattan Bridge Capital by 441.5% in the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after acquiring an additional 119,595 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.