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

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

A number of other brokerages have also recently weighed in on BRDG. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.00 price target (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. UBS Group increased their price target on Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.80.

Bridge Investment Group Stock Performance

NYSE:BRDG traded up $0.14 during trading hours on Thursday, reaching $10.15. 555,983 shares of the stock were exchanged, compared to its average volume of 247,979. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The firm has a 50 day simple moving average of $8.55 and a 200-day simple moving average of $9.15. Bridge Investment Group has a 52 week low of $6.31 and a 52 week high of $11.69. The stock has a market capitalization of $1.26 billion, a P/E ratio of 253.69 and a beta of 1.47.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $81.96 million for the quarter, compared to analysts’ expectations of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. As a group, sell-side analysts forecast that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Insider Transactions at Bridge Investment Group

In other news, CFO Katherine Elsnab sold 3,078 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $25,516.62. Following the sale, the chief financial officer now owns 303,937 shares in the company, valued at $2,519,637.73. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert Randolph Morse sold 47,252 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $392,664.12. Following the completion of the transaction, the chairman now directly owns 3,157,271 shares of the company’s stock, valued at $26,236,922.01. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,187 shares of company stock valued at $1,204,966 in the last three months. 65.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Bridge Investment Group

A number of hedge funds have recently modified their holdings of BRDG. EP Wealth Advisors LLC acquired a new position in Bridge Investment Group during the fourth quarter valued at $89,000. Aquatic Capital Management LLC acquired a new position in Bridge Investment Group during the fourth quarter valued at $95,000. Jane Street Group LLC acquired a new position in Bridge Investment Group during the third quarter valued at $102,000. Paloma Partners Management Co acquired a new position in Bridge Investment Group during the third quarter valued at $110,000. Finally, XTX Topco Ltd acquired a new position in Bridge Investment Group during the third quarter valued at $127,000. 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.