Manhattan Bridge Capital (NASDAQ:LOAN) Posts Earnings Results, Misses Estimates By $0.01 EPS

Manhattan Bridge Capital (NASDAQ:LOAN) announced its quarterly earnings results on Thursday. The credit services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01), FiscalAI reports. Manhattan Bridge Capital had a return on equity of 11.59% and a net margin of 59.24%.The firm had revenue of $0.00 million for the quarter, compared to the consensus estimate of $2.06 million.

Manhattan Bridge Capital Price Performance

NASDAQ:LOAN traded down $0.08 on Thursday, hitting $4.10. 53,612 shares of the company’s stock were exchanged, compared to its average volume of 29,304. The firm has a 50-day moving average price of $4.33 and a 200-day moving average price of $4.41. Manhattan Bridge Capital has a 52 week low of $4.10 and a 52 week high of $5.80. The company has a market cap of $46.86 million, a P/E ratio of 9.32 and a beta of 0.14.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Manhattan Bridge Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Manhattan Bridge Capital has a consensus rating of “Hold”.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several hedge funds have recently modified their holdings of LOAN. Gen Wealth Partners Inc bought a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at $161,000. Renaissance Technologies LLC increased its holdings in Manhattan Bridge Capital by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock worth $845,000 after buying an additional 7,900 shares during the last quarter. Geode Capital Management LLC raised its position in Manhattan Bridge Capital by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 112,087 shares of the credit services provider’s stock worth $521,000 after acquiring an additional 3,046 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Manhattan Bridge Capital by 28.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after acquiring an additional 81,220 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Manhattan Bridge Capital by 2.5% in the third quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock valued at $2,116,000 after acquiring an additional 9,330 shares during the last quarter. Institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.