Research analysts at StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) in a research note issued to investors on Monday. The firm set a “strong-buy” rating on the credit services provider’s stock.
Manhattan Bridge Capital Price Performance
Shares of NASDAQ:LOAN opened at $5.14 on Monday. The company’s 50 day simple moving average is $5.12 and its 200 day simple moving average is $4.95. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.35. The stock has a market capitalization of $58.80 million, a price-to-earnings ratio of 10.28 and a beta of 0.61.
Hedge Funds Weigh In On Manhattan Bridge Capital
Hedge funds have recently modified their holdings of the business. National Bank of Canada FI increased 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 purchasing an additional 3,900 shares in the last quarter. Certuity LLC purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at $54,000. Virtu Financial LLC bought a new position in Manhattan Bridge Capital during the first quarter worth about $69,000. B. Riley Wealth Advisors Inc. lifted its stake 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 buying an additional 6,923 shares in the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital during the fourth quarter worth $206,000. Institutional investors and hedge funds 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.
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