Bridge Investment Group (NYSE:BRDG) Releases Earnings Results, Beats Estimates By $0.02 EPS

Bridge Investment Group (NYSE:BRDG) announced its quarterly earnings results on Monday. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02, Zacks reports. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%.

Bridge Investment Group Stock Performance

Shares of NYSE:BRDG opened at $10.99 on Monday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. Bridge Investment Group has a 12 month low of $6.18 and a 12 month high of $11.69. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 271.07 and a beta of 1.55. The firm’s 50-day moving average is $8.04 and its 200 day moving average is $8.92.

Analyst Ratings Changes

Several brokerages have recently issued reports on BRDG. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Wells Fargo & Company cut their price target on Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Finally, TD Cowen lowered their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.40.

Insiders Place Their Bets

In related news, Vice Chairman Dean Allara sold 10,438 shares of the business’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 value of $86,531.02. Following the completion of the sale, the insider now owns 683,606 shares in the company, valued at approximately $5,667,093.74. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Katherine Elsnab sold 3,078 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were 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 trade represents a 1.00 % 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 over the last 90 days. Insiders own 65.90% 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.