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

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

Manhattan Bridge Capital Stock Up 1.6 %

Manhattan Bridge Capital stock opened at $5.73 on Friday. The stock has a 50-day moving average price of $5.62 and a 200 day moving average price of $5.50. The company has a market capitalization of $65.55 million, a price-to-earnings ratio of 11.69 and a beta of 0.48. Manhattan Bridge Capital has a 52 week low of $4.69 and a 52 week high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Wednesday, March 12th. The credit services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company had revenue of $2.36 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Soltis Investment Advisors LLC purchased a new stake in Manhattan Bridge Capital in the 3rd quarter worth $14,758,000. Hardy Reed LLC raised its holdings in shares of Manhattan Bridge Capital by 7.8% during the fourth quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock valued at $2,075,000 after acquiring an additional 26,733 shares during the last quarter. Melia Wealth LLC lifted its position in shares of Manhattan Bridge Capital by 3.0% in the fourth quarter. Melia Wealth LLC now owns 351,140 shares of the credit services provider’s stock valued at $1,966,000 after acquiring an additional 10,301 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Manhattan Bridge Capital in the fourth quarter worth approximately $1,684,000. Finally, Avant Financial Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital during the fourth quarter worth approximately $1,626,000. 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.