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

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

Manhattan Bridge Capital Price Performance

Shares of NASDAQ:LOAN opened at $5.42 on Tuesday. The business has a 50-day moving average of $5.34 and a two-hundred day moving average of $5.23. The firm has a market capitalization of $62.00 million, a PE ratio of 10.84 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 posted its earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $2.44 million during the quarter. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. North Star Investment Management Corp. purchased a new position in Manhattan Bridge Capital in the first quarter valued at about $234,000. PDS Planning Inc acquired a new stake in shares of Manhattan Bridge Capital in the first quarter valued at about $499,000. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Manhattan Bridge Capital by 24.7% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 141,494 shares of the credit services provider’s stock valued at $716,000 after buying an additional 28,048 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Manhattan Bridge Capital by 67.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock worth $82,000 after acquiring an additional 6,923 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Manhattan Bridge Capital in the first quarter valued at approximately $69,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

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.