Frazier Financial Advisors LLC Lowers Stock Holdings in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Frazier Financial Advisors LLC lowered its stake in shares of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 66.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,718 shares of the credit services provider’s stock after selling 11,227 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Manhattan Bridge Capital were worth $32,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Riversedge Advisors LLC purchased a new stake in Manhattan Bridge Capital in the 2nd quarter valued at approximately $68,000. Virtu Financial LLC purchased a new stake in Manhattan Bridge Capital in the 1st quarter valued at approximately $69,000. B. Riley Wealth Advisors Inc. boosted its holdings in Manhattan Bridge Capital by 67.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after purchasing an additional 6,923 shares in the last quarter. Waddell & Associates LLC boosted its holdings in Manhattan Bridge Capital by 3.9% in the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after purchasing an additional 2,861 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. purchased a new stake in Manhattan Bridge Capital in the 2nd quarter valued at approximately $436,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Stock Performance

LOAN stock opened at $5.32 on Friday. The firm has a 50 day moving average of $5.40 and a 200-day moving average of $5.27. Manhattan Bridge Capital, Inc. has a 12-month low of $4.27 and a 12-month high of $5.90. The company has a market cap of $60.86 million, a price-to-earnings ratio of 10.86 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The firm had revenue of $2.31 million during the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Manhattan Bridge Capital in a research report on Friday. They set a “strong-buy” rating for the company.

Manhattan Bridge Capital 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.