Manhattan Bridge Capital (NASDAQ:LOAN) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Wednesday, ValuEngine reports.

Separately, Aegis reiterated a “hold” rating on shares of Manhattan Bridge Capital in a research report on Monday, January 13th.

Shares of Manhattan Bridge Capital stock traded up $0.13 during trading on Wednesday, hitting $5.65. The stock had a trading volume of 89,951 shares, compared to its average volume of 47,940. The stock has a 50 day simple moving average of $6.20 and a 200 day simple moving average of $6.26. The company has a market capitalization of $53.32 million, a PE ratio of 12.00 and a beta of 0.45. Manhattan Bridge Capital has a 1 year low of $4.99 and a 1 year high of $6.73.

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in shares of Manhattan Bridge Capital by 15.7% during the fourth quarter. Renaissance Technologies LLC now owns 228,062 shares of the credit services provider’s stock valued at $1,450,000 after buying an additional 31,000 shares in the last quarter. Capital Planning Advisors LLC grew its holdings in shares of Manhattan Bridge Capital by 4.7% during the fourth quarter. Capital Planning Advisors LLC now owns 75,382 shares of the credit services provider’s stock valued at $75,000 after buying an additional 3,380 shares in the last quarter. National Asset Management Inc. grew its stake in Manhattan Bridge Capital by 20.7% during the 4th quarter. National Asset Management Inc. now owns 52,992 shares of the credit services provider’s stock valued at $338,000 after acquiring an additional 9,093 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in Manhattan Bridge Capital during the 4th quarter valued at about $303,000. Finally, Centric Wealth Management purchased a new position in Manhattan Bridge Capital during the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 13.69% 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. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.

Recommended Story: Technical Indicators – What is a Golden Cross?

To view ValuEngine’s full report, visit ValuEngine’s official website.



Receive News & Ratings for Manhattan Bridge Capital Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Manhattan Bridge Capital and related companies with MarketBeat.com’s FREE daily email newsletter.



Source link