Manhattan Bridge Capital (NASDAQ:LOAN) Raised to “Hold” at Zacks Research

Manhattan Bridge Capital (NASDAQ:LOAN) was upgraded by analysts at Zacks Research to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Separately, Weiss Ratings cut Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Manhattan Bridge Capital Price Performance

NASDAQ:LOAN opened at $3.86 on Monday. The company has a market capitalization of $44.12 million, a price-to-earnings ratio of 9.19 and a beta of 0.20. The business has a 50 day moving average of $4.03 and a 200 day moving average of $4.24. Manhattan Bridge Capital has a 1-year low of $3.54 and a 1-year high of $5.80.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). Manhattan Bridge Capital had a return on equity of 11.02% and a net margin of 58.30%.The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $2.04 million. As a group, sell-side analysts anticipate that Manhattan Bridge Capital will post 0.42 EPS for the current year.

Insider Activity

In other Manhattan Bridge Capital news, CEO Assaf Ran purchased 8,000 shares of Manhattan Bridge Capital stock in a transaction that occurred on Tuesday, July 28th. The shares were bought at an average price of $3.99 per share, for a total transaction of $31,920.00. Following the acquisition, the chief executive officer directly owned 1,235,000 shares in the company, valued at approximately $4,927,650. This trade represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 24.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. RW Investment Management LLC purchased a new stake in shares of Manhattan Bridge Capital in the 2nd quarter worth about $59,000. Renaissance Technologies LLC lifted its holdings in Manhattan Bridge Capital by 7.9% in the first quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock worth $872,000 after buying an additional 14,290 shares during the period. Eclectic Associates Inc. ADV purchased a new position in shares of Manhattan Bridge Capital during the 2nd quarter worth approximately $190,000. BlackRock Inc. bought a new position in shares of Manhattan Bridge Capital in the 2nd quarter worth approximately $198,000. Finally, Frazier Financial Advisors LLC lifted its stake in shares of Manhattan Bridge Capital by 156.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock valued at $907,000 after purchasing an additional 124,229 shares during the period. Institutional investors own 21.84% of the company’s stock.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, first-mortgage loans. Its loans are generally secured by residential real estate and are designed to provide financing for property acquisitions, renovations, development and other real estate-related purposes.

The company primarily serves real estate investors and developers seeking financing that may not be available through traditional lending channels. Its lending activities have historically been concentrated in the New York metropolitan area and other selected markets, with an emphasis on collateral-based underwriting and short-term loan structures.

Manhattan Bridge Capital was founded in 2003 and is headquartered in Great Neck, New York.