StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN – Free Report) in a research note issued to investors on Tuesday morning. The firm issued a strong-buy rating on the credit services provider’s stock.
Manhattan Bridge Capital Trading Down 0.6 %
LOAN opened at $5.28 on Tuesday. The company’s 50 day moving average is $5.16 and its 200 day moving average is $4.99. The company has a market cap of $60.40 million, a price-to-earnings ratio of 10.56 and a beta of 0.59. Manhattan Bridge Capital has a 12-month low of $4.27 and a 12-month high of $5.59.
Institutional Trading of Manhattan Bridge Capital
A number of hedge funds and other institutional investors have recently bought and sold shares of LOAN. National Bank of Canada FI increased its holdings in 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 acquiring an additional 3,900 shares in the last quarter. Certuity LLC purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at $54,000. Virtu Financial LLC purchased a new stake in Manhattan Bridge Capital in the 1st quarter worth $69,000. B. Riley Wealth Advisors Inc. raised its holdings in Manhattan Bridge Capital by 67.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after acquiring an additional 6,923 shares during the period. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at about $206,000. Hedge funds and other institutional investors 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.
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