Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by StockNews.com

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

Manhattan Bridge Capital Stock Performance

Shares of LOAN stock opened at $5.64 on Wednesday. The firm’s fifty day moving average price is $5.59 and its two-hundred day moving average price is $5.44. Manhattan Bridge Capital has a 1 year low of $4.60 and a 1 year high of $5.90. The firm has a market capitalization of $64.52 million, a P/E ratio of 11.51 and a beta of 0.55.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several hedge funds have recently added to or reduced their stakes in LOAN. Soltis Investment Advisors LLC acquired a new position in Manhattan Bridge Capital in the 3rd quarter valued at about $14,758,000. Cary Street Partners Financial LLC bought a new stake in shares of Manhattan Bridge Capital during the fourth quarter worth approximately $1,684,000. Fortress Financial Solutions LLC bought a new stake in shares of Manhattan Bridge Capital during the fourth quarter worth approximately $685,000. International Assets Investment Management LLC grew its position in shares of Manhattan Bridge Capital by 441.5% in the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after purchasing an additional 119,595 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. increased its stake in shares of Manhattan Bridge Capital by 53.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares during the period. Institutional investors and hedge funds own 21.84% of the company’s stock.

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.