Waddell & Associates LLC Trims Stake in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Waddell & Associates LLC trimmed its position in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 16.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,200 shares of the credit services provider’s stock after selling 12,918 shares during the quarter. Waddell & Associates LLC owned 0.56% of Manhattan Bridge Capital worth $358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its holdings in Manhattan Bridge Capital by 35.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after buying an additional 6,117 shares during the period. Riversedge Advisors LLC purchased a new position in shares of Manhattan Bridge Capital in the 2nd quarter valued at $68,000. Virtu Financial LLC bought a new position in shares of Manhattan Bridge Capital in the 1st quarter worth $69,000. Renaissance Technologies LLC lifted its stake in shares of Manhattan Bridge Capital by 13.3% during 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 last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its position in Manhattan Bridge Capital by 53.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock valued at $724,000 after purchasing an additional 45,222 shares in the last quarter. Institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Stock Up 1.5 %

NASDAQ LOAN opened at $5.33 on Friday. Manhattan Bridge Capital, Inc. has a 52 week low of $4.27 and a 52 week high of $5.90. The company has a 50 day moving average price of $5.41 and a 200 day moving average price of $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 issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The business had revenue of $2.31 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Manhattan Bridge Capital in a report on Saturday. They issued a “strong-buy” rating for the company.

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.