Bridge Investment Group (NYSE:BRDG) Downgraded to Equal Weight Rating by Wells Fargo & Company

Bridge Investment Group (NYSE:BRDG) was downgraded by research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report issued on Thursday, Marketbeat.com reports. They currently have a $11.50 target price on the stock, up from their prior target price of $10.00. Wells Fargo & Company‘s target price suggests a potential upside of 9.63% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $14.00 to $11.00 in a report on Friday, November 8th. TD Cowen cut 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, 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 research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.90.

Bridge Investment Group Trading Up 1.0 %

Shares of Bridge Investment Group stock opened at $10.49 on Thursday. The firm has a market capitalization of $1.27 billion, a PE ratio of 262.32 and a beta of 1.56. 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’s 50 day moving average is $8.21 and its 200 day moving average is $9.00. Bridge Investment Group has a 1 year low of $6.18 and a 1 year high of $11.69.

Bridge Investment Group (NYSE:BRDG) last announced 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 net margin of 1.92% and a return on equity of 9.91%. The company had revenue of $81.96 million during the quarter, compared to the consensus estimate of $82.02 million. Equities research analysts forecast that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Bridge Investment Group

In other Bridge Investment Group news, CEO Jonathan Slager sold 11,403 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $94,530.87. Following the sale, the chief executive officer now owns 962,481 shares of the company’s stock, valued at approximately $7,978,967.49. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Dean Allara sold 10,877 shares of Bridge Investment Group stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $90,387.87. Following the completion of the transaction, the insider now directly owns 662,473 shares of the company’s stock, valued at approximately $5,505,150.63. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,187 shares of company stock valued at $1,204,966. 73.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bridge Investment Group

Institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC increased its stake in shares of Bridge Investment Group by 2.3% in the 3rd 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 in the last quarter. Geode Capital Management LLC grew its holdings in Bridge Investment Group by 11.2% in the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after purchasing an additional 40,975 shares during the period. Jane Street Group LLC bought a new stake in Bridge Investment Group in the third quarter valued at $102,000. XTX Topco Ltd acquired a new position in shares of Bridge Investment Group during the third quarter valued at about $127,000. Finally, State Street Corp boosted its position in shares of Bridge Investment Group by 12.0% during the 3rd quarter. State Street Corp now owns 128,711 shares of the company’s stock worth $1,270,000 after purchasing an additional 13,800 shares in the last quarter. 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.