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

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

Manhattan Bridge Capital Trading Down 2.1 %

Shares of LOAN opened at $5.48 on Tuesday. The company’s fifty day simple moving average is $5.43 and its 200-day simple moving average is $5.32. The company has a market cap of $62.69 million, a P/E ratio of 11.18 and a beta of 0.57. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90.

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, hitting 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 company had revenue of $2.31 million for the quarter.

Institutional Trading of Manhattan Bridge Capital

Several institutional investors and hedge funds have recently made changes to their positions in LOAN. Soltis Investment Advisors LLC bought a new position in shares of Manhattan Bridge Capital in the third quarter worth about $14,758,000. International Assets Investment Management LLC boosted its position in 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 period. Beese Fulmer Investment Management Inc. boosted its position in 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 buying an additional 45,222 shares during the period. Renaissance Technologies LLC grew its stake in 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 worth $963,000 after acquiring an additional 21,950 shares in the last quarter. Finally, Riversedge Advisors LLC purchased a new position in shares of Manhattan Bridge Capital during the second quarter worth approximately $68,000. 21.84% of the stock is currently owned by institutional investors.

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.