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

Analysts at StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued on Wednesday. The brokerage set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

Shares of Manhattan Bridge Capital stock opened at $5.60 on Wednesday. The firm has a fifty day simple moving average of $5.59 and a 200-day simple moving average of $5.44. Manhattan Bridge Capital has a 1-year low of $4.60 and a 1-year high of $5.90. The stock has a market capitalization of $64.06 million, a price-to-earnings ratio of 11.43 and a beta of 0.55.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several large investors have recently bought and sold shares of LOAN. Advisory Services Network LLC acquired a new position in Manhattan Bridge Capital during the 4th quarter valued at $97,000. OLIO Financial Planning acquired a new position in Manhattan Bridge Capital during the 4th quarter valued at $117,000. NewEdge Advisors LLC raised its stake in Manhattan Bridge Capital by 28.4% during the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock valued at $157,000 after purchasing an additional 6,215 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in Manhattan Bridge Capital by 13.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock valued at $159,000 after purchasing an additional 3,324 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in Manhattan Bridge Capital during the 4th quarter valued at $169,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.