UBS Group Issues Positive Forecast for Bridge Investment Group (NYSE:BRDG) Stock Price

Bridge Investment Group (NYSE:BRDG) had its target price lifted by equities researchers at UBS Group from $7.50 to $12.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 14.18% from the stock’s current price.

BRDG has been the topic of several other reports. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company 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 note on Tuesday, January 7th. TD Cowen dropped their target price on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Finally, 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 research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Bridge Investment Group currently has a consensus rating of “Hold” and a consensus target price of $10.60.

Bridge Investment Group Price Performance

NYSE BRDG traded up $0.23 during trading hours on Wednesday, reaching $10.51. 511,445 shares of the company’s stock were exchanged, compared to its average volume of 287,771. Bridge Investment Group has a one year low of $6.18 and a one year high of $11.69. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. The firm has a fifty day moving average of $8.10 and a 200-day moving average of $8.96. The stock has a market cap of $1.27 billion, a PE ratio of 262.84 and a beta of 1.56.

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

Insider Activity at Bridge Investment Group

In other news, Chairman Robert Randolph Morse sold 45,343 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 value of $375,893.47. Following the sale, the chairman now owns 3,249,076 shares in the company, valued at $26,934,840.04. This represents a 1.38 % 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, CEO Jonathan Slager sold 11,403 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 value of $94,530.87. Following the completion of the transaction, the chief executive officer now directly owns 962,481 shares of the company’s stock, valued at $7,978,967.49. The trade was a 1.17 % decrease in their ownership of the stock. 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. Company insiders own 73.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. FMR LLC lifted 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 worth $14,901,000 after acquiring an additional 1,120,549 shares during the period. Royce & Associates LP lifted its stake in shares of Bridge Investment Group by 29.3% during the fourth quarter. Royce & Associates LP now owns 999,626 shares of the company’s stock valued at $8,397,000 after buying an additional 226,396 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Bridge Investment Group by 322.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 280,196 shares of the company’s stock worth $2,354,000 after purchasing an additional 213,857 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Bridge Investment Group by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 3,481,145 shares of the company’s stock worth $29,242,000 after purchasing an additional 208,022 shares during the period. Finally, Lord Abbett & CO. LLC raised its stake in shares of Bridge Investment Group by 17.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 964,060 shares of the company’s stock valued at $8,098,000 after acquiring an additional 141,178 shares during the period. 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.