Manhattan Bridge Capital (NASDAQ:LOAN) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Manhattan Bridge Capital (NASDAQ:LOAN) released its earnings results on Thursday. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01), FiscalAI reports. The business had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.04 million. Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.01%.

Manhattan Bridge Capital Trading Down 3.2%

LOAN opened at $3.97 on Friday. The stock has a market cap of $45.38 million, a PE ratio of 9.45 and a beta of 0.14. Manhattan Bridge Capital has a 1 year low of $3.95 and a 1 year high of $5.80. The stock’s 50 day simple moving average is $4.32 and its 200-day simple moving average is $4.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LOAN. Osaic Holdings Inc. increased its holdings in Manhattan Bridge Capital by 140.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after buying an additional 3,292 shares during the period. Rothschild Wealth LLC acquired a new position in shares of Manhattan Bridge Capital in the 4th quarter valued at $118,000. Citadel Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the 3rd quarter valued at $149,000. Gen Wealth Partners Inc bought a new position in shares of Manhattan Bridge Capital during the 4th quarter worth about $161,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Manhattan Bridge Capital by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock worth $845,000 after acquiring an additional 7,900 shares during the period. 21.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. One analyst has rated the stock with a Hold rating, According to MarketBeat, Manhattan Bridge Capital presently has a consensus rating of “Hold”.

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.