Wealthcare Advisory Partners LLC reduced its stake in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN – Free Report) by 16.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,347 shares of the credit services provider’s stock after selling 8,902 shares during the period. Wealthcare Advisory Partners LLC owned approximately 0.40% of Manhattan Bridge Capital worth $229,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Bellwether Advisors LLC increased its holdings in Manhattan Bridge Capital by 10.5% in the fourth quarter. Bellwether Advisors LLC now owns 178,180 shares of the credit services provider’s stock valued at $886,000 after buying an additional 16,956 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Manhattan Bridge Capital by 447.4% in the fourth quarter. International Assets Investment Management LLC now owns 126,196 shares of the credit services provider’s stock valued at $627,000 after buying an additional 103,143 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in Manhattan Bridge Capital by 122.2% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 113,446 shares of the credit services provider’s stock valued at $564,000 after buying an additional 62,385 shares during the last quarter. Melia Wealth LLC purchased a new position in Manhattan Bridge Capital in the first quarter valued at $315,000. Finally, Abacus Wealth Partners LLC increased its holdings in Manhattan Bridge Capital by 288.7% in the first quarter. Abacus Wealth Partners LLC now owns 56,216 shares of the credit services provider’s stock valued at $284,000 after buying an additional 41,752 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, StockNews.com assumed coverage on Manhattan Bridge Capital in a report on Monday. They issued a “strong-buy” rating on the stock.
Manhattan Bridge Capital Stock Performance
Shares of LOAN stock opened at $5.19 on Tuesday. The stock’s 50-day moving average is $5.12 and its two-hundred day moving average is $4.96. The firm has a market cap of $59.37 million, a price-to-earnings ratio of 10.38 and a beta of 0.59. Manhattan Bridge Capital, Inc. has a 1 year low of $4.27 and a 1 year high of $5.35.
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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