Manhattan Bridge Capital (NASDAQ:LOAN) Rating Increased to Strong-Buy at StockNews.com

Manhattan Bridge Capital (NASDAQ:LOAN) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Manhattan Bridge Capital Trading Up 1.7 %

Shares of Manhattan Bridge Capital stock opened at $5.26 on Tuesday. The stock has a 50-day moving average price of $5.26 and a 200 day moving average price of $5.09. The company has a market cap of $60.17 million, a P/E ratio of 10.52 and a beta of 0.59. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.59.

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

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of Manhattan Bridge Capital by 13.3% during the 2nd 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 last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Manhattan Bridge Capital by 24.7% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 141,494 shares of the credit services provider’s stock valued at $716,000 after acquiring an additional 28,048 shares during the last quarter. PDS Planning Inc acquired a new position in shares of Manhattan Bridge Capital during the 1st quarter valued at about $499,000. Beese Fulmer Investment Management Inc. acquired a new position in shares of Manhattan Bridge Capital during the 2nd quarter valued at about $436,000. Finally, Waddell & Associates LLC increased its holdings in shares of Manhattan Bridge Capital by 3.9% during the 2nd 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 last quarter. 21.84% of the stock is owned by hedge funds and other institutional investors.

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.