This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Seeking Alpha Issued A Report On Manhattan Bridge Capital

NEW YORK, May 18, 2010 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq:LOAN), provides short term, secured, non-banking, commercial loans to small businesses, announced today that on May 12, 2010, it was featured on SeekingAlpha.com. The article headlined "Manhattan Bridge Capital: An Actual Ben Graham Value Stock" by Hester. The article mentions that the Company provides factoring loans, but these loans are not currently provided by the Company.

Seeking Alpha is the premier website for actionable stock market opinion and analysis, and vibrant, intelligent finance discussion. Seeking Alpha handpick articles from the world's top market blogs, money managers, financial experts and investment newsletters  publishing approximately 250 articles daily. Seeking Alpha gives a voice to over 3000 contributors, providing access to the nation's most savvy and inquisitive investors. Seeking Alpha site is the only free, online source for over 1,500 public companies' quarterly earnings call transcripts, including the S&P 500.  Seeking Alpha was named the Most Informative Website by Kiplinger's Magazine and has received Forbes' 'Best of the Web' Award.

The article stated:

I have seen or read dozens of investors pitch their stocks saying, "This is a Ben Graham type pick" or "This is a stock Ben Graham would love." I don't know if those investors have never read Graham, or if that's just part of their sales pitch, but most of those stocks Ben Graham wouldn't go near. Many of them had negative tangible book value, or valuations that depended on strong growth. Let's get through the fog of Wall Street and look at a stock that Ben Graham actually might have owned.

The stock that I'm talking about is Manhattan Bridge Capital ( LOAN). They are a very small company with a market cap of over $4 million. LOAN does two things, it provides bridge loans and it does something called factoring. Factoring is buying a company's accounts receivables for 75 or 85 cents on the dollar, providing immediate liquidity for the company while LOAN makes a profit when they collect the receivables in full. Bridge loans are short term collateralized commercial loans, with higher interest rates. Businesses typically need bridge loans when they are transitioning between buildings and haven't sold their old building to buy the new building yet.

Manhattan Bridge's value is in their balance sheet. As of the end of March, they have about $8.3 million in current assets, and about $.8 million in total liabilities. That makes a net current asset value of about $7.5 million. Compare this to their current market cap of about $4.3 million, and they are clearly a bargain. Selling for 57% of NCAV, they are a typical cigar butt/Graham stock. Almost all of the current assets are receivables from loans made. So the question is, can Manhattan Bridge collect?

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
LOAN $4.22 0.00%
AAPL $121.30 0.00%
FB $94.01 0.00%
GOOG $625.61 0.00%
TSLA $266.15 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs