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

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

Manhattan Bridge Capital Price Performance

Shares of Manhattan Bridge Capital stock opened at $5.28 on Friday. The stock has a 50-day simple moving average of $5.41 and a 200-day simple moving average of $5.29. Manhattan Bridge Capital has a 52-week low of $4.43 and a 52-week high of $5.90. The firm has a market cap of $60.40 million, a price-to-earnings ratio of 10.78 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $2.31 million during 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Riversedge Advisors LLC bought a new position in shares of Manhattan Bridge Capital in the 2nd quarter valued at approximately $68,000. Virtu Financial LLC bought a new position in shares of Manhattan Bridge Capital in the first quarter valued at approximately $69,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of Manhattan Bridge Capital by 67.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock worth $82,000 after buying an additional 6,923 shares during the last quarter. Waddell & Associates LLC boosted 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 worth $396,000 after buying an additional 2,861 shares during the period. Finally, Beese Fulmer Investment Management Inc. acquired a new position in Manhattan Bridge Capital in the 2nd quarter valued at $436,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

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.