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

Equities research 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 NASDAQ:LOAN opened at $5.64 on Wednesday. The firm has a market capitalization of $64.52 million, a PE ratio of 11.51 and a beta of 0.55. Manhattan Bridge Capital has a 1-year low of $4.60 and a 1-year high of $5.90. The business’s 50 day moving average is $5.59 and its 200-day moving average is $5.44.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently modified their holdings of LOAN. Soltis Investment Advisors LLC bought a new position in Manhattan Bridge Capital during the third quarter worth about $14,758,000. Cary Street Partners Financial LLC acquired a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $1,684,000. Fortress Financial Solutions LLC bought a new position in Manhattan Bridge Capital during the 4th quarter worth approximately $685,000. International Assets Investment Management LLC grew its holdings in Manhattan Bridge Capital by 441.5% during 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 period. Finally, Beese Fulmer Investment Management Inc. increased its stake in Manhattan Bridge Capital by 53.4% in the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock valued at $724,000 after purchasing an additional 45,222 shares in the last quarter. 21.84% of the stock is owned by institutional investors.

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.