Waddell & Associates LLC Reduces Position in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Waddell & Associates LLC decreased its stake in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 16.8% during the third quarter, HoldingsChannel reports. The firm owned 64,200 shares of the credit services provider’s stock after selling 12,918 shares during the quarter. Waddell & Associates LLC’s holdings in Manhattan Bridge Capital were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in LOAN. B. Riley Wealth Advisors Inc. increased its position 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 period. Riversedge Advisors LLC purchased a new stake in Manhattan Bridge Capital during the 2nd quarter valued at about $68,000. Virtu Financial LLC purchased a new stake in Manhattan Bridge Capital during the 1st quarter valued at about $69,000. Renaissance Technologies LLC increased its holdings in shares of 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 valued at $963,000 after purchasing an additional 21,950 shares during the period. Finally, Beese Fulmer Investment Management Inc. raised its stake in shares of 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 worth $724,000 after purchasing an additional 45,222 shares during the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Manhattan Bridge Capital in a research report on Saturday. They issued a “strong-buy” rating on the stock.

Manhattan Bridge Capital Price Performance

LOAN stock opened at $5.33 on Friday. The company has a market capitalization of $60.98 million, a P/E ratio of 10.88 and a beta of 0.58. Manhattan Bridge Capital, Inc. has a 12 month low of $4.27 and a 12 month high of $5.90. The firm’s fifty day simple moving average is $5.41 and its 200-day simple moving average is $5.28.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The company 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%.

Manhattan Bridge Capital 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.