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

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

Manhattan Bridge Capital Price Performance

NASDAQ LOAN opened at $5.32 on Friday. The company has a market cap of $60.86 million, a price-to-earnings ratio of 10.86 and a beta of 0.58. The stock’s fifty day moving average price is $5.40 and its 200 day moving average price is $5.27. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly 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 return on equity of 13.06% and a net margin of 56.93%. The business had revenue of $2.31 million for the quarter.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in shares of Manhattan Bridge Capital by 13.3% in 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. International Assets Investment Management LLC lifted its position 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 valued at $817,000 after purchasing an additional 119,595 shares during the period. Beese Fulmer Investment Management Inc. boosted its holdings 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 during the last quarter. Geode Capital Management LLC grew its position in Manhattan Bridge Capital by 2.7% during the 3rd 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 during the period. Finally, Waddell & Associates LLC grew its position in 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 worth $396,000 after purchasing an additional 2,861 shares during the period. 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.