Hardy Reed LLC Reduces Stake in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Hardy Reed LLC lessened its position in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 21.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 343,766 shares of the credit services provider’s stock after selling 91,729 shares during the quarter. Hardy Reed LLC’s holdings in Manhattan Bridge Capital were worth $1,915,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LOAN. Waddell & Associates LLC raised its position in Manhattan Bridge Capital by 3.9% in the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after acquiring an additional 2,861 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after purchasing an additional 6,117 shares during the period. Riversedge Advisors LLC bought a new position in Manhattan Bridge Capital in the 2nd quarter worth $68,000. Virtu Financial LLC purchased a new position in Manhattan Bridge Capital during the first quarter valued at $69,000. Finally, Renaissance Technologies LLC grew its holdings in Manhattan Bridge Capital by 13.3% during the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after purchasing an additional 21,950 shares during the period. Institutional investors own 21.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Manhattan Bridge Capital in a research note on Saturday. They issued a “strong-buy” rating on the stock.

Manhattan Bridge Capital Trading Down 0.6 %

NASDAQ LOAN opened at $5.28 on Wednesday. Manhattan Bridge Capital, Inc. has a 12 month low of $4.43 and a 12 month high of $5.90. The stock has a market cap of $60.40 million, a price-to-earnings ratio of 10.78 and a beta of 0.58. The company’s 50 day moving average is $5.41 and its two-hundred day moving average is $5.29.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

About Manhattan Bridge Capital

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.