Manhattan Bridge Capital (NASDAQ:LOAN) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.07 and traded as low as $4.47. Manhattan Bridge Capital shares last traded at $4.49, with a volume of 18,816 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Manhattan Bridge Capital in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Manhattan Bridge Capital presently has a consensus rating of “Hold”.

Manhattan Bridge Capital Stock Performance

The firm has a market capitalization of $51.37 million, a PE ratio of 9.76 and a beta of 0.25. The firm’s 50 day moving average price is $4.69 and its 200-day moving average price is $5.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV raised its stake in Manhattan Bridge Capital by 28.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after purchasing an additional 81,220 shares during the last quarter. Melia Wealth LLC raised its stake in shares of Manhattan Bridge Capital by 15.3% in the 3rd quarter. Melia Wealth LLC now owns 436,465 shares of the credit services provider’s stock valued at $2,394,000 after acquiring an additional 57,932 shares during the period. Certuity LLC purchased a new position in Manhattan Bridge Capital during the 2nd quarter valued at about $306,000. Apella Capital LLC purchased a new stake in Manhattan Bridge Capital during the 4th quarter worth approximately $192,000. Finally, Fortress Financial Solutions LLC grew its stake in Manhattan Bridge Capital by 26.7% during the 3rd quarter. Fortress Financial Solutions LLC now owns 152,430 shares of the credit services provider’s stock worth $837,000 after purchasing an additional 32,148 shares in the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.