ValuEngine Downgrades Manhattan Bridge Capital (NASDAQ:LOAN) to Sell

Manhattan Bridge Capital (NASDAQ:LOAN) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday, ValuEngine reports.

Separately, Aegis reiterated a “hold” rating on shares of Manhattan Bridge Capital in a research note on Monday, January 13th.

Shares of LOAN stock traded down $0.13 during trading hours on Thursday, reaching $3.82. 60,800 shares of the stock traded hands, compared to its average volume of 44,094. Manhattan Bridge Capital has a 1-year low of $2.54 and a 1-year high of $6.73. The business has a fifty day moving average price of $5.00 and a 200 day moving average price of $5.98. The firm has a market capitalization of $37.21 million, a PE ratio of 8.13 and a beta of 0.74.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Tuesday, March 17th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. Manhattan Bridge Capital had a net margin of 61.24% and a return on equity of 13.68%. The business had revenue of $1.86 million for the quarter. As a group, analysts forecast that Manhattan Bridge Capital will post 0.45 earnings per share for the current year.

In other news, CEO Assaf Ran acquired 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $3.23 per share, with a total value of $25,840.00. Over the last ninety days, insiders have purchased 25,000 shares of company stock valued at $87,440. 27.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of LOAN. J.W. Cole Advisors Inc. bought a new stake in shares of Manhattan Bridge Capital during the 4th quarter worth $303,000. Centric Wealth Management bought a new stake in shares of Manhattan Bridge Capital during the 4th quarter worth $42,000. Renaissance Technologies LLC boosted its holdings in Manhattan Bridge Capital by 15.7% in the 4th quarter. Renaissance Technologies LLC now owns 228,062 shares of the credit services provider’s stock valued at $1,450,000 after purchasing an additional 31,000 shares during the period. Csenge Advisory Group bought a new stake in Manhattan Bridge Capital in the 4th quarter valued at $29,000. Finally, National Asset Management Inc. boosted its holdings in Manhattan Bridge Capital by 20.7% in the 4th quarter. National Asset Management Inc. now owns 52,992 shares of the credit services provider’s stock valued at $338,000 after purchasing an additional 9,093 shares during the period. 13.69% of the stock is owned by institutional investors and hedge funds.

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. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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