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

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

Manhattan Bridge Capital Stock Performance

LOAN opened at $5.33 on Friday. The stock has a market capitalization of $60.98 million, a P/E ratio of 10.88 and a beta of 0.58. The company’s 50-day simple moving average is $5.41 and its two-hundred day simple moving average is $5.28. Manhattan Bridge Capital has a 52-week low of $4.27 and a 52-week high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last released 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. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The firm had revenue of $2.31 million during the quarter.

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riversedge Advisors LLC purchased a new stake in Manhattan Bridge Capital in the 2nd quarter worth approximately $68,000. Virtu Financial LLC purchased a new stake in Manhattan Bridge Capital during the 1st quarter valued at approximately $69,000. B. Riley Wealth Advisors Inc. grew its holdings 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 valued at $82,000 after buying an additional 6,923 shares in the last quarter. Waddell & Associates LLC grew its holdings in 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 valued at $396,000 after buying an additional 2,861 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. purchased a new stake in Manhattan Bridge Capital during the 2nd quarter valued at approximately $436,000. 21.84% of the stock is owned by hedge funds and other institutional investors.

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.