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

Research analysts at StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report issued to clients and investors on Thursday. The brokerage set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Up 0.2 %

Manhattan Bridge Capital stock opened at $5.07 on Thursday. The business has a 50 day moving average price of $4.92 and a two-hundred day moving average price of $4.79. The stock has a market cap of $58.00 million, a price-to-earnings ratio of 10.14 and a beta of 0.59. Manhattan Bridge Capital has a 12 month low of $4.27 and a 12 month high of $5.29.

Hedge Funds Weigh In On Manhattan Bridge Capital

Hedge funds have recently modified their holdings of the stock. National Bank of Canada FI raised its holdings in shares of Manhattan Bridge Capital by 195.0% in the 4th quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock worth $28,000 after buying an additional 3,900 shares in the last quarter. Certuity LLC acquired a new position in shares of Manhattan Bridge Capital in the 4th quarter worth approximately $54,000. Perritt Capital Management Inc. raised its holdings in shares of Manhattan Bridge Capital by 506.7% in the 3rd quarter. Perritt Capital Management Inc. now owns 29,462 shares of the credit services provider’s stock worth $141,000 after buying an additional 24,606 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the 4th quarter worth approximately $206,000. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Manhattan Bridge Capital by 23.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 51,061 shares of the credit services provider’s stock worth $245,000 after buying an additional 9,553 shares in the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

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.