Bridge Investment Group (NYSE:BRDG) Rating Lowered to Equal Weight at Wells Fargo & Company

Bridge Investment Group (NYSE:BRDG) was downgraded by Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Thursday, Marketbeat reports. They currently have a $11.50 target price on the stock, up from their prior target price of $10.00. Wells Fargo & Company‘s target price points to a potential upside of 9.63% from the company’s current price.

BRDG has been the topic of a number of other reports. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $14.00 to $11.00 in a report on Friday, November 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. UBS Group upped their target price on shares of Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, TD Cowen reduced their price target on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.90.

Bridge Investment Group Trading Up 1.0 %

Bridge Investment Group stock opened at $10.49 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a 50-day moving average of $8.21 and a 200-day moving average of $9.00. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 262.32 and a beta of 1.56. Bridge Investment Group has a one year low of $6.18 and a one year high of $11.69.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $81.96 million during the quarter, compared to the consensus estimate of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. On average, equities analysts expect that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Insider Activity

In related news, Vice Chairman Dean Allara sold 10,877 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $90,387.87. Following the transaction, the insider now directly owns 662,473 shares of the company’s stock, valued at approximately $5,505,150.63. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Katherine Elsnab sold 3,078 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $25,516.62. Following the transaction, the chief financial officer now directly owns 303,937 shares in the company, valued at $2,519,637.73. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,187 shares of company stock valued at $1,204,966. 73.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Bridge Investment Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in shares of Bridge Investment Group by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 1,295,065 shares of the company’s stock worth $10,879,000 after purchasing an additional 8,218 shares during the period. Royce & Associates LP increased its holdings in Bridge Investment Group by 1.2% in the 3rd quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock valued at $7,632,000 after buying an additional 8,909 shares during the period. Jane Street Group LLC bought a new position in Bridge Investment Group in the 3rd quarter valued at about $102,000. EP Wealth Advisors LLC acquired a new position in shares of Bridge Investment Group in the 4th quarter valued at approximately $89,000. Finally, Paloma Partners Management Co bought a new stake in shares of Bridge Investment Group during the 3rd quarter worth approximately $110,000. 52.83% of the stock is owned by institutional investors and hedge funds.

About Bridge Investment Group

Bridge Investment Group Holdings Inc engages in the real estate investment management business in the United States. It manages capital on behalf of approximately hundred global institutions and 6,500 individual investors across approximately 25 investment vehicles. The company was founded in 2009 and is headquartered in Salt Lake City, Utah.