Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued to investors on Saturday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Trading Up 1.5 %

Shares of Manhattan Bridge Capital stock opened at $5.33 on Friday. The company’s fifty day simple moving average is $5.41 and its two-hundred day simple moving average is $5.28. The company has a market cap of $60.98 million, a P/E ratio of 10.88 and a beta of 0.58. 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 released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The firm 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 Trading of Manhattan Bridge Capital

Hedge funds and other institutional investors have recently modified their holdings of the business. Riversedge Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital in the 2nd quarter worth about $68,000. Virtu Financial LLC bought a new position in Manhattan Bridge Capital in the 1st quarter worth about $69,000. B. Riley Wealth Advisors Inc. boosted its stake in Manhattan Bridge Capital by 67.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock worth $82,000 after purchasing an additional 6,923 shares in the last quarter. Waddell & Associates LLC boosted 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 purchasing an additional 2,861 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. bought a new position in Manhattan Bridge Capital in the 2nd quarter worth about $436,000. 21.84% of the stock is owned by hedge funds and other institutional investors.

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.