Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by StockNews.com

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

Manhattan Bridge Capital Price Performance

LOAN stock opened at $5.59 on Monday. The firm has a market capitalization of $63.95 million, a P/E ratio of 11.41 and a beta of 0.55. Manhattan Bridge Capital has a 52-week low of $4.60 and a 52-week high of $5.90. The company’s 50 day simple moving average is $5.55 and its 200-day simple moving average is $5.41.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LOAN. Geode Capital Management LLC lifted its position in Manhattan Bridge Capital by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after buying an additional 3,008 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Manhattan Bridge Capital by 13.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock worth $159,000 after acquiring an additional 3,324 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Manhattan Bridge Capital by 35.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after purchasing an additional 6,117 shares during the last quarter. Beese Fulmer Investment Management Inc. grew its stake in Manhattan Bridge Capital by 9.7% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 142,597 shares of the credit services provider’s stock valued at $799,000 after purchasing an additional 12,616 shares in the last quarter. Finally, OLIO Financial Planning acquired a new position in Manhattan Bridge Capital in the 4th quarter worth about $117,000. 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.