Manhattan Bridge Capital Receives Strong-Buy Rating from StockNews.com

StockNews.com has initiated coverage on Manhattan Bridge Capital (NASDAQ:LOAN), issuing a strong-buy recommendation for the credit services provider. The commendation reflects a positive outlook from the firm's analysts on the company's stock, emphasizing its potential for investors. On the last trading session prior to the announcement, shares of the company opened at a price of $4.79.

Robust Trading Activity

Manhattan Bridge Capital's current market performance shows steady trading, with a simple moving average of $4.79 over fifty days and $4.72 over two hundred days. Valued at a market cap of approximately $54.80 million, the company has a price-to-earnings ratio of 9.98 and a beta of 0.59, indicating moderate volatility. Its stock price has fluctuated between a low of $4.27 and a high of $5.51 over the past 12 months.

Institutional Investments Surge

There has been notable activity by large investors in terms of stake adjustments within the company's shares. Moneta Group Investment Advisors LLC dramatically increased its holdings by buying over 10 million shares, while Vanguard Group Inc. made a smaller but still significant increase in their investment last quarter. Similarly, both Hardy Reed LLC and Bellwether Advisors LLC raised their stakes, underscoring the investor interest in Manhattan Bridge Capital. Additionally, Renaissance Technologies LLC also slightly boosted its share ownership. Collectively, hedge funds and other institutional investors have ownership of approximately 17.81% of the company's equity.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc operates as a real estate finance company, providing short-term, secured, and non-banking loans to real estate investors for the acquisition and improvement of properties within the New York metropolitan area as well as Florida. This service facilitates the development and rehabilitation of residential and commercial real estate, signifying a robust involvement in the property market of these regions.

Strong-Buy, Coverage, Investment