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

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

Manhattan Bridge Capital Trading Up 1.4 %

Shares of Manhattan Bridge Capital stock opened at $5.68 on Friday. The stock has a market capitalization of $64.97 million, a price-to-earnings ratio of 11.59 and a beta of 0.48. Manhattan Bridge Capital has a 1-year low of $4.69 and a 1-year high of $5.90. The firm’s 50-day moving average price is $5.60 and its two-hundred day moving average price is $5.48.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Wednesday, March 12th. The credit services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $2.36 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of large investors have recently modified their holdings of the stock. Soltis Investment Advisors LLC acquired a new position in shares of Manhattan Bridge Capital during the third quarter worth approximately $14,758,000. Hardy Reed LLC lifted its position in shares of Manhattan Bridge Capital by 7.8% during the fourth quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock worth $2,075,000 after purchasing an additional 26,733 shares in the last quarter. Melia Wealth LLC lifted its position in shares of Manhattan Bridge Capital by 3.0% during the fourth quarter. Melia Wealth LLC now owns 351,140 shares of the credit services provider’s stock worth $1,966,000 after purchasing an additional 10,301 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of Manhattan Bridge Capital during the fourth quarter worth approximately $1,684,000. Finally, Beese Fulmer Investment Management Inc. lifted its position in shares of Manhattan Bridge Capital by 9.7% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 142,597 shares of the credit services provider’s stock worth $799,000 after purchasing an additional 12,616 shares in the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.