Investment analysts at StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) in a report released on Wednesday. The firm set a "strong-buy" rating on the credit services provider's stock.
Manhattan Bridge Capital Stock Performance
NASDAQ LOAN traded down $0.03 on Wednesday, reaching $5.48. The stock had a trading volume of 4,556 shares, compared to its average volume of 21,179. The stock has a market cap of $62.69 million, a P/E ratio of 11.02 and a beta of 0.58. Manhattan Bridge Capital has a 12-month low of $4.27 and a 12-month high of $5.90. The business's 50-day moving average price is $5.36 and its 200 day moving average price is $5.24.
Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last issued its quarterly earnings results 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 56.72% and a return on equity of 13.20%. The firm had revenue of $2.31 million during the quarter.
Institutional Investors Weigh In On Manhattan Bridge Capital
Several hedge funds have recently modified their holdings of the stock. Waddell & Associates LLC raised its position in Manhattan Bridge Capital by 3.9% during the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider's stock worth $396,000 after buying an additional 2,861 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Manhattan Bridge Capital by 35.7% in 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 purchasing an additional 6,117 shares during the period. Riversedge Advisors LLC purchased a new stake in Manhattan Bridge Capital in the 2nd quarter valued at approximately $68,000. Virtu Financial LLC acquired a new position in Manhattan Bridge Capital during the 1st quarter worth approximately $69,000. Finally, Renaissance Technologies LLC raised 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 buying an additional 21,950 shares in the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.
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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