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

Research analysts at StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) in a research note issued to investors on Wednesday. The brokerage set a "strong-buy" rating on the credit services provider's stock.

Manhattan Bridge Capital Stock Up 1.4 %

NASDAQ LOAN traded up $0.07 on Wednesday, reaching $5.07. The company had a trading volume of 15,234 shares, compared to its average volume of 21,347. The stock's 50 day moving average is $4.85 and its 200-day moving average is $4.76. The stock has a market cap of $58.00 million, a price-to-earnings ratio of 10.56 and a beta of 0.59. Manhattan Bridge Capital has a 52 week low of $4.27 and a 52 week high of $5.29.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several large investors have recently modified their holdings of the business. Moneta Group Investment Advisors LLC increased its holdings in shares of Manhattan Bridge Capital by 19,792.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,651,782 shares of the credit services provider's stock worth $56,774,000 after acquiring an additional 10,598,236 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Manhattan Bridge Capital by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 370,622 shares of the credit services provider's stock worth $1,842,000 after acquiring an additional 6,520 shares in the last quarter. Hardy Reed LLC increased its holdings in shares of Manhattan Bridge Capital by 0.9% in the fourth quarter. Hardy Reed LLC now owns 335,443 shares of the credit services provider's stock worth $1,667,000 after acquiring an additional 3,147 shares in the last quarter. Bellwether Advisors LLC boosted its position in shares of Manhattan Bridge Capital by 10.5% during the fourth quarter. Bellwether Advisors LLC now owns 178,180 shares of the credit services provider's stock worth $886,000 after buying an additional 16,956 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Manhattan Bridge Capital by 2.1% during the second quarter. Renaissance Technologies LLC now owns 175,841 shares of the credit services provider's stock worth $985,000 after buying an additional 3,623 shares during the period. 21.84% of the stock is currently owned by institutional investors.

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.