The stock of Manhattan Bridge Capital Inc. (NASDAQ:LOAN) is a huge mover today! The stock increased 4.51% or $0.3 on November 23, hitting $6.95. About 55,647 shares traded hands. Manhattan Bridge Capital Inc. (NASDAQ:LOAN) has risen 60.88% since April 22, 2016 and is uptrending. It has outperformed by 55.47% the S&P500.
The move comes after 7 months positive chart setup for the $55.28 million company. It was reported on Nov, 24 by Barchart.com. We have $7.16 PT which if reached, will make NASDAQ:LOAN worth $1.66M more.
Analysts await Manhattan Bridge Capital Inc. (NASDAQ:LOAN) to report earnings on March, 14.
According to Zacks Investment Research, “MANHATTAN BRIDGE CAPITAL INC., formerly DAG Media, Inc., through its subsidiaries, provides short term, secured, non-banking, commercial loans to small businesses against good collateral, such as real estate, receivables, trading shares, etc., in addition to personal guarantees of the principles in most cases. In addition it develops innovative software and a related web site that allows retail businesses and other service providers to reach prospective customers and clients for their goods and services in a more effective way than traditional on-line and print yellow pages search.”
More notable recent Manhattan Bridge Capital Inc. (NASDAQ:LOAN) news were published by: Globenewswire.com which released: “Manhattan Bridge Capital, Inc. Announces Closing of Over-Allotment Option Shares” on August 31, 2016, also Globenewswire.com with their article: “Manhattan Bridge Capital, Inc. Prices Public Offering of 672269 Common Shares” published on August 09, 2016, Globenewswire.com published: “Manhattan Bridge Capital, Inc. Prices $6000000 Offering of Senior Secured …” on April 15, 2016. More interesting news about Manhattan Bridge Capital Inc. (NASDAQ:LOAN) were released by: Globenewswire.com and their article: “Manhattan Bridge Capital, Inc. Announces Closing of Public Offering of Common …” published on August 15, 2016 as well as Reuters.com‘s news article titled: “BRIEF-Manhattan Bridge Capital Announces proposed public offering of comm…” with publication date: March 26, 2013.
LOAN Company Profile
Manhattan Bridge Capital, Inc. (MBC), incorporated on February 22, 1999, is a real estate finance firm that specializes in originating, servicing and managing a portfolio of first mortgage loans. The Firm offers short-term, secured, non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area. The Company’s primary business objective is to grow its loan portfolio while protecting and preserving capital in a manner that provides for risk-adjusted returns to its shareholders over the long term through dividends. The Firm intends to achieve this objective by continuing to selectively originate, fund loans secured by first mortgages on residential real estate held for investment located in the New York metropolitan area, and to manage and service its portfolio in a manner designed to generate risk-adjusted returns across a range of market conditions and economic cycles.
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