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 Thursday. The firm set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Trading Up 1.1 %

NASDAQ LOAN opened at $5.11 on Thursday. The firm’s fifty day moving average price is $4.91 and its two-hundred day moving average price is $4.78. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.29. The firm has a market capitalization of $58.45 million, a P/E ratio of 10.65 and a beta of 0.59.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Abacus Wealth Partners LLC increased its holdings in shares of Manhattan Bridge Capital by 288.7% in the first quarter. Abacus Wealth Partners LLC now owns 56,216 shares of the credit services provider’s stock valued at $284,000 after purchasing an additional 41,752 shares during the last quarter. Melia Wealth LLC acquired a new position in shares of Manhattan Bridge Capital in the first quarter valued at $315,000. Frazier Financial Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at $206,000. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Manhattan Bridge Capital by 122.2% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 113,446 shares of the credit services provider’s stock valued at $564,000 after purchasing an additional 62,385 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at $270,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.