Manhattan Bridge Capital (NASDAQ:LOAN) Cut to “Hold (C+)” at Weiss Ratings

Weiss Ratings cut shares of Manhattan Bridge Capital (NASDAQ:LOAN) from a buy (b-) rating to a hold (c+) rating in a research report sent to investors on Saturday,Weiss Ratings reports.

Manhattan Bridge Capital Stock Down 2.7%

Manhattan Bridge Capital stock opened at $5.08 on Friday. Manhattan Bridge Capital has a 12-month low of $4.74 and a 12-month high of $6.05. The firm’s fifty day moving average is $5.37 and its 200 day moving average is $5.32. The company has a market capitalization of $58.12 million, a PE ratio of 11.04 and a beta of 0.37.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Friday, October 24th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Manhattan Bridge Capital had a net margin of 58.67% and a return on equity of 12.22%. The company had revenue of $2.04 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LOAN. Osaic Holdings Inc. raised its holdings in Manhattan Bridge Capital by 140.7% during the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after buying an additional 3,292 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in Manhattan Bridge Capital during the second quarter worth $112,000. Kingsview Wealth Management LLC acquired a new position in Manhattan Bridge Capital during the first quarter worth $121,000. International Assets Investment Management LLC acquired a new position in Manhattan Bridge Capital during the second quarter worth $149,000. Finally, Atria Wealth Solutions Inc. raised its holdings in Manhattan Bridge Capital by 57.2% during the second quarter. Atria Wealth Solutions Inc. now owns 39,871 shares of the credit services provider’s stock worth $218,000 after buying an additional 14,513 shares during the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

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.