StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN – Free Report) in a research note issued to investors on Thursday morning. The firm issued a strong-buy rating on the credit services provider’s stock.
Manhattan Bridge Capital Stock Performance
Shares of NASDAQ LOAN opened at $5.22 on Thursday. The firm’s 50-day moving average price is $5.26 and its 200-day moving average price is $5.12. The stock has a market capitalization of $59.72 million, a price-to-earnings ratio of 10.44 and a beta of 0.58. Manhattan Bridge Capital has a 12-month low of $4.27 and a 12-month high of $5.59.
Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last announced its earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $2.44 million for the quarter. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%.
Manhattan Bridge Capital Announces Dividend
Institutional Trading of Manhattan Bridge Capital
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in 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 worth $963,000 after purchasing an additional 21,950 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in Manhattan Bridge Capital by 24.7% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 141,494 shares of the credit services provider’s stock worth $716,000 after purchasing an additional 28,048 shares during the period. PDS Planning Inc purchased a new position in shares of Manhattan Bridge Capital during the first quarter worth approximately $499,000. Beese Fulmer Investment Management Inc. purchased a new position in shares of Manhattan Bridge Capital during the second quarter worth approximately $436,000. Finally, Waddell & Associates LLC increased its position in shares of Manhattan Bridge Capital by 3.9% during the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after acquiring 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.
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