Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Manhattan Bridge Capital Price Performance

NASDAQ LOAN opened at $5.38 on Thursday. Manhattan Bridge Capital has a 52 week low of $4.27 and a 52 week high of $5.90. The company has a market cap of $61.54 million, a PE ratio of 10.98 and a beta of 0.58. The firm’s 50-day simple moving average is $5.39 and its two-hundred day simple moving average is $5.26.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share 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 for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of Manhattan Bridge Capital by 441.5% in the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after purchasing an additional 119,595 shares during the last quarter. Beese Fulmer Investment Management Inc. purchased a new position in Manhattan Bridge Capital in the 2nd quarter worth about $436,000. Pinnacle Wealth Planning Services Inc. boosted 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 acquiring an additional 28,048 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Manhattan Bridge Capital by 13.3% in the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after acquiring an additional 21,950 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Manhattan Bridge Capital during the first quarter valued at approximately $69,000. Institutional investors 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.