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

Research analysts at StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report released on Thursday. The firm set a “strong-buy” rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Up 0.6 %

Shares of LOAN traded up $0.03 during trading hours on Thursday, reaching $5.00. 8,208 shares of the company traded hands, compared to its average volume of 19,763. The stock has a market capitalization of $57.17 million, a P/E ratio of 10.00 and a beta of 0.59. Manhattan Bridge Capital has a 12-month low of $4.27 and a 12-month high of $5.29. The business has a fifty day moving average price of $4.97 and a 200-day moving average price of $4.81.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its position in Manhattan Bridge Capital by 195.0% during the fourth quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock valued at $28,000 after purchasing an additional 3,900 shares during the period. Certuity LLC acquired a new position in Manhattan Bridge Capital during the fourth quarter valued at $54,000. Perritt Capital Management Inc. lifted its position in Manhattan Bridge Capital by 506.7% during the third quarter. Perritt Capital Management Inc. now owns 29,462 shares of the credit services provider’s stock valued at $141,000 after purchasing an additional 24,606 shares during the period. Frazier Financial Advisors LLC acquired a new position in Manhattan Bridge Capital during the fourth quarter valued at $206,000. Finally, North Star Investment Management Corp. acquired a new position in Manhattan Bridge Capital during the first quarter valued at $234,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.