Bridge Investment Group (NYSE:BRDG) Lowered to Hold at TD Cowen

Bridge Investment Group (NYSE:BRDG) was downgraded by stock analysts at TD Cowen from a “buy” rating to a “hold” rating in a report released on Monday, FinViz reports. They presently have a $10.50 price objective on the stock, up from their prior price objective of $10.00. TD Cowen’s target price would indicate a potential downside of 0.19% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Morgan Stanley raised their price target on shares of Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.80.

Bridge Investment Group Stock Up 2.2 %

BRDG opened at $10.52 on Monday. The company has a fifty day moving average of $8.61 and a two-hundred day moving average of $7.80. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -95.63 and a beta of 1.65. Bridge Investment Group has a fifty-two week low of $6.18 and a fifty-two week high of $10.76. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.21.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $79.05 million. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. During the same quarter in the prior year, the firm posted $0.20 EPS. On average, research analysts expect that Bridge Investment Group will post 0.77 earnings per share for the current year.

Insiders Place Their Bets

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 25,823 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $8.26, for a total value of $213,297.98. Following the transaction, the chairman now directly owns 2,605,033 shares in the company, valued at $21,517,572.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jonathan Slager sold 6,409 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total value of $51,464.27. Following the sale, the chief executive officer now owns 773,884 shares in the company, valued at approximately $6,214,288.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert Randolph Morse sold 25,823 shares of Bridge Investment Group stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $8.26, for a total value of $213,297.98. Following the completion of the transaction, the chairman now directly owns 2,605,033 shares of the company’s stock, valued at approximately $21,517,572.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,366 shares of company stock valued at $687,133 in the last three months. 65.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BRDG. Quarry LP grew its position in shares of Bridge Investment Group by 22.5% during the second quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after buying an additional 1,535 shares in the last quarter. Marshall Wace LLP grew its holdings in Bridge Investment Group by 22.0% during the 2nd quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock worth $852,000 after acquiring an additional 20,726 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Bridge Investment Group by 21.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock valued at $1,273,000 after purchasing an additional 30,620 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bridge Investment Group by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Albion Financial Group UT purchased a new position in shares of Bridge Investment Group in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Bridge Investment Group Company Profile

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.