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

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

Manhattan Bridge Capital Stock Performance

NASDAQ LOAN opened at $5.48 on Friday. Manhattan Bridge Capital has a fifty-two week low of $4.27 and a fifty-two week high of $5.59. The stock has a market cap of $62.69 million, a PE ratio of 10.96 and a beta of 0.58. The firm’s fifty day moving average price is $5.26 and its two-hundred day moving average price is $5.17.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Monday, July 22nd. 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 13.20% and a net margin of 56.72%. The business had revenue of $2.44 million during the quarter.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOAN. Riversedge Advisors LLC bought a new stake in shares of Manhattan Bridge Capital in the second quarter worth $68,000. Virtu Financial LLC acquired a new stake in shares of Manhattan Bridge Capital in the first quarter valued at about $69,000. B. Riley Wealth Advisors Inc. raised its position in shares of Manhattan Bridge Capital by 67.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock worth $82,000 after acquiring an additional 6,923 shares during the last quarter. North Star Investment Management Corp. acquired a new position in shares of Manhattan Bridge Capital in the first quarter worth approximately $234,000. Finally, Abacus Wealth Partners LLC boosted its holdings in Manhattan Bridge Capital by 288.7% in the first quarter. Abacus Wealth Partners LLC now owns 56,216 shares of the credit services provider’s stock valued at $284,000 after acquiring an additional 41,752 shares during the last quarter. 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.