Manhattan Bridge Capital (NASDAQ:LOAN) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note released on Monday. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

LOAN opened at $5.19 on Monday. The stock has a market capitalization of $59.37 million, a P/E ratio of 10.38 and a beta of 0.59. The company’s 50-day simple moving average is $5.12 and its two-hundred day simple moving average is $4.96. Manhattan Bridge Capital has a 52-week low of $4.27 and a 52-week high of $5.35.

Hedge Funds Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI lifted its stake in Manhattan Bridge Capital by 195.0% during the 4th quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock valued at $28,000 after acquiring an additional 3,900 shares during the period. Certuity LLC bought a new position in Manhattan Bridge Capital during the 4th quarter valued at about $54,000. Virtu Financial LLC purchased a new stake in shares of Manhattan Bridge Capital during the 1st quarter valued at about $69,000. B. Riley Wealth Advisors Inc. increased its position in shares of Manhattan Bridge Capital by 67.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after purchasing an additional 6,923 shares during the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital during the 4th quarter valued at about $206,000. Institutional investors own 21.84% of the company’s stock.

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.