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

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

Manhattan Bridge Capital Trading Down 1.3 %

Manhattan Bridge Capital stock opened at $5.51 on Friday. The company has a market cap of $63.03 million, a PE ratio of 11.24 and a beta of 0.55. Manhattan Bridge Capital has a 1 year low of $4.60 and a 1 year high of $5.90. The company’s 50-day moving average is $5.47 and its two-hundred day moving average is $5.37.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data 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 added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. increased its stake 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 valued at $120,000 after acquiring an additional 6,117 shares during the last quarter. Geode Capital Management LLC grew 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 valued at $635,000 after purchasing an additional 3,008 shares during the period. Beese Fulmer Investment Management Inc. increased its stake in Manhattan Bridge Capital by 53.4% in the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock valued at $724,000 after purchasing an additional 45,222 shares in the last quarter. International Assets Investment Management LLC increased its stake in Manhattan Bridge Capital by 441.5% in the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after purchasing an additional 119,595 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Manhattan Bridge Capital by 13.3% in 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 during the period. Institutional investors and hedge funds 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.