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

StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report published on Saturday morning. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

LOAN opened at $5.08 on Friday. Manhattan Bridge Capital has a fifty-two week low of $4.27 and a fifty-two week high of $5.35. The company has a market capitalization of $58.12 million, a P/E ratio of 10.16 and a beta of 0.61. The stock has a fifty day moving average of $5.11 and a 200-day moving average of $4.93.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of hedge funds and other institutional investors have recently modified their holdings of LOAN. National Bank of Canada FI increased its position in shares of Manhattan Bridge Capital by 195.0% in the fourth quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock worth $28,000 after purchasing an additional 3,900 shares during the period. Certuity LLC bought a new position in shares of Manhattan Bridge Capital in the fourth quarter worth $54,000. Virtu Financial LLC bought a new position in shares of Manhattan Bridge Capital in the first quarter worth $69,000. B. Riley Wealth Advisors Inc. increased its position in shares of 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 during the period. Finally, Perritt Capital Management Inc. increased its position in shares of Manhattan Bridge Capital by 506.7% in the third quarter. Perritt Capital Management Inc. now owns 29,462 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 24,606 shares during the period. 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.