Manhattan Bridge Capital (NASDAQ:LOAN) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report released on Wednesday. The brokerage set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

Shares of LOAN stock opened at $5.60 on Wednesday. Manhattan Bridge Capital has a 52-week low of $4.60 and a 52-week high of $5.90. The stock has a market cap of $64.06 million, a price-to-earnings ratio of 11.43 and a beta of 0.55. The firm has a fifty day moving average of $5.59 and a 200-day moving average of $5.44.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of hedge funds have recently made changes to their positions in the company. Soltis Investment Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital during the 3rd quarter worth about $14,758,000. Hardy Reed LLC increased its position in shares of Manhattan Bridge Capital by 7.8% during the 4th quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock worth $2,075,000 after purchasing an additional 26,733 shares in the last quarter. Melia Wealth LLC increased its position in shares of Manhattan Bridge Capital by 3.0% during the 4th quarter. Melia Wealth LLC now owns 351,140 shares of the credit services provider’s stock worth $1,966,000 after purchasing an additional 10,301 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Manhattan Bridge Capital during the 4th quarter worth about $1,684,000. Finally, International Assets Investment Management LLC increased its position in shares of Manhattan Bridge Capital by 441.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after purchasing an additional 119,595 shares in the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

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.