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

by · The Cerbat Gem

StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN – Free Report) in a research note issued to investors on Saturday morning. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Down 0.6 %

Shares of LOAN stock opened at $5.28 on Friday. Manhattan Bridge Capital has a 12 month low of $4.43 and a 12 month high of $5.90. The firm has a market cap of $60.40 million, a PE ratio of 10.78 and a beta of 0.58. The stock has a 50 day moving average of $5.41 and a 200-day moving average of $5.29.

Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last announced its 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 net margin of 56.93% and a return on equity of 13.06%. The business had revenue of $2.31 million for the quarter.

Institutional Trading of Manhattan Bridge Capital

Institutional investors have recently modified their holdings of the company. Waddell & Associates LLC raised its stake in shares of Manhattan Bridge Capital by 3.9% in the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after purchasing an additional 2,861 shares in the last quarter. Geode Capital Management LLC raised its stake 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 buying an additional 3,008 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Manhattan Bridge Capital by 35.7% in the 2nd 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 in the last quarter. Riversedge Advisors LLC bought a new position in shares of Manhattan Bridge Capital during the 2nd quarter worth about $68,000. Finally, Virtu Financial LLC acquired a new stake in shares of Manhattan Bridge Capital during the 1st quarter valued at about $69,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

About Manhattan Bridge Capital

(Get Free Report)

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.

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