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

Investment analysts at StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued to investors on Saturday. The firm set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Up 1.5 %

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

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The business had revenue of $2.31 million for the quarter.

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Soltis Investment Advisors LLC purchased a new position in shares of Manhattan Bridge Capital in the 3rd quarter valued at $14,758,000. International Assets Investment Management LLC grew its position in shares of Manhattan Bridge Capital by 441.5% in the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after buying an additional 119,595 shares during the last quarter. Beese Fulmer Investment Management Inc. purchased a new position in shares of Manhattan Bridge Capital in the 2nd quarter valued at $436,000. Renaissance Technologies LLC grew its position in shares of 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 valued at $963,000 after buying an additional 21,950 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Manhattan Bridge Capital in the 1st quarter valued at $69,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.