StockNews.com Initiates Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report released on Sunday. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Trading Down 1.3 %

Shares of NASDAQ:LOAN opened at $5.12 on Friday. The stock has a market capitalization of $58.58 million, a PE ratio of 10.24 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. The firm has a fifty day moving average price of $5.11 and a 200 day moving average price of $4.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. National Bank of Canada FI lifted its position 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 worth $28,000 after acquiring an additional 3,900 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Manhattan Bridge Capital by 67.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock worth $82,000 after purchasing an additional 6,923 shares in the last quarter. Certuity LLC acquired a new position in Manhattan Bridge Capital in the fourth quarter worth about $54,000. Virtu Financial LLC acquired a new position in Manhattan Bridge Capital in the first quarter worth about $69,000. Finally, Bellwether Advisors LLC raised its position 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 worth $886,000 after purchasing an additional 16,956 shares in the last quarter. 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.