Manhattan Bridge Capital (NASDAQ:LOAN) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report released on Sunday. The firm set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

LOAN opened at $5.22 on Friday. The stock’s 50 day simple moving average is $5.11 and its 200 day simple moving average is $4.94. The firm has a market cap of $59.72 million, a price-to-earnings ratio of 10.44 and a beta of 0.61. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.35.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. National Bank of Canada FI grew its holdings in Manhattan Bridge Capital by 195.0% in the 4th quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock worth $28,000 after acquiring an additional 3,900 shares during the last quarter. Certuity LLC bought a new stake in shares of Manhattan Bridge Capital in the fourth quarter worth about $54,000. Virtu Financial LLC purchased a new position in Manhattan Bridge Capital during the 1st quarter valued at about $69,000. B. Riley Wealth Advisors Inc. raised its position in 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, Perritt Capital Management Inc. lifted its holdings in Manhattan Bridge Capital by 506.7% in the 3rd quarter. Perritt Capital Management Inc. now owns 29,462 shares of the credit services provider’s stock worth $141,000 after buying an additional 24,606 shares during the period. 21.84% of the stock is owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Company Profile

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.