Manhattan Bridge Capital (NASDAQ:LOAN) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report issued to clients and investors on Monday. The brokerage set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Trading Up 0.9 %

Shares of LOAN stock opened at $5.55 on Monday. The business’s fifty day simple moving average is $5.42 and its 200-day simple moving average is $5.31. The company has a market cap of $63.49 million, a PE ratio of 11.33 and a beta of 0.57. Manhattan Bridge Capital has a 12-month low of $4.60 and a 12-month high of $5.90.

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. The business had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several hedge funds have recently made changes to their positions in the company. Soltis Investment Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the 3rd quarter valued at $14,758,000. Renaissance Technologies LLC increased 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 acquiring an additional 21,950 shares during the period. International Assets Investment Management LLC increased 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 acquiring an additional 119,595 shares during the period. Beese Fulmer Investment Management Inc. increased its position in shares of Manhattan Bridge Capital by 53.4% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock valued at $724,000 after acquiring an additional 45,222 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Manhattan Bridge Capital by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after acquiring an additional 3,008 shares during the period. 21.84% of the stock is owned by institutional investors and hedge funds.

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.