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

Stock analysts at StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued to investors on Thursday. The firm set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

NASDAQ:LOAN opened at $5.58 on Thursday. The firm has a market capitalization of $63.83 million, a price-to-earnings ratio of 11.39 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 has a 50 day simple moving average of $5.60 and a 200-day simple moving average of $5.45.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several institutional investors have recently modified their holdings of the stock. Gen Wealth Partners Inc lifted its stake in shares of Manhattan Bridge Capital by 5.1% during the 4th quarter. Gen Wealth Partners Inc now owns 38,740 shares of the credit services provider’s stock worth $217,000 after acquiring an additional 1,896 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Manhattan Bridge Capital during the 4th quarter worth approximately $1,684,000. NewEdge Advisors LLC lifted its stake in shares of Manhattan Bridge Capital by 28.4% during the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock worth $157,000 after acquiring an additional 6,215 shares during the last quarter. Melia Wealth LLC lifted its stake 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 acquiring an additional 10,301 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Manhattan Bridge Capital during the 4th quarter worth approximately $97,000. 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.