Manhattan Bridge Capital (NASDAQ:LOAN) Releases Earnings Results

Manhattan Bridge Capital (NASDAQ:LOAN) announced its 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 company had revenue of $0.00 million during the quarter, compared to the consensus estimate of $2.06 million.

Manhattan Bridge Capital Stock Down 1.9%

LOAN stock traded down $0.08 during midday trading on Thursday, reaching $4.10. The stock had a trading volume of 53,612 shares, compared to its average volume of 29,304. The firm has a market cap of $46.86 million, a price-to-earnings ratio of 9.32 and a beta of 0.14. Manhattan Bridge Capital has a twelve month low of $4.10 and a twelve month high of $5.80. The business has a fifty day simple moving average of $4.33 and a two-hundred day simple moving average of $4.41.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV grew its position in shares of Manhattan Bridge Capital by 28.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after buying an additional 81,220 shares during the period. Gen Wealth Partners Inc bought a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at about $161,000. Citadel Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital in the 3rd quarter valued at approximately $149,000. Rothschild Wealth LLC acquired a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $118,000. Finally, Moneta Group Investment Advisors LLC boosted its stake in Manhattan Bridge Capital by 72.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 31,310 shares of the credit services provider’s stock worth $146,000 after acquiring an additional 13,139 shares during the last quarter. Institutional investors own 21.84% of the company’s stock.

Analysts Set New Price Targets

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

About Manhattan Bridge Capital

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.