Bridge Investment Group (NYSE:BRDG) Given New $11.00 Price Target at Wells Fargo & Company

Bridge Investment Group (NYSE:BRDG) had its price target cut by analysts at Wells Fargo & Company from $11.50 to $11.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 8.43% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $10.00 price objective (down from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. UBS Group upped their price target on shares of Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.80.

Bridge Investment Group Stock Up 1.3 %

Shares of BRDG stock traded up $0.14 on Thursday, hitting $10.15. The company’s stock had a trading volume of 555,983 shares, compared to its average volume of 247,979. 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 stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 253.69 and a beta of 1.47. Bridge Investment Group has a fifty-two week low of $6.31 and a fifty-two week high of $11.69. The firm’s fifty day moving average price is $8.55 and its 200-day moving average price is $9.15.

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

Insider Transactions at Bridge Investment Group

In other Bridge Investment Group news, Vice Chairman Dean Allara sold 10,877 shares of Bridge Investment Group stock in a transaction on Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $90,387.87. Following the sale, the insider now owns 662,473 shares in the company, valued at $5,505,150.63. The trade was a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Adam O’farrell sold 6,655 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $55,169.95. Following the completion of the transaction, the chief operating officer now owns 551,512 shares of the company’s stock, valued at approximately $4,572,034.48. This represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,187 shares of company stock worth $1,204,966. 65.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bridge Investment Group

Several large investors have recently modified their holdings of BRDG. Quest Partners LLC acquired a new stake in Bridge Investment Group in the 3rd quarter valued at $448,000. Jennison Associates LLC lifted its holdings in shares of Bridge Investment Group by 2.3% during the third quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock valued at $33,271,000 after acquiring an additional 74,779 shares during the period. FMR LLC boosted its stake in shares of Bridge Investment Group by 288.0% in the 3rd quarter. FMR LLC now owns 1,509,690 shares of the company’s stock valued at $14,901,000 after purchasing an additional 1,120,549 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Bridge Investment Group in the 3rd quarter worth about $638,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Bridge Investment Group during the 3rd quarter worth about $110,000. 52.83% of the stock is currently owned by institutional investors.

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.