Wells Fargo & Company Issues Pessimistic Forecast for Bridge Investment Group (NYSE:BRDG) Stock Price

Bridge Investment Group (NYSE:BRDG) had its price target decreased by investment analysts at Wells Fargo & Company from $12.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 38.12% from the company’s previous close.

BRDG has been the subject of several other reports. Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $14.00 to $11.00 in a research report on Friday, November 8th. TD Cowen dropped their price objective on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. UBS Group increased their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $10.00 price target (down from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.40.

Bridge Investment Group Stock Performance

BRDG stock opened at $7.24 on Tuesday. The firm has a 50 day simple moving average of $9.17 and a 200 day simple moving average of $8.90. Bridge Investment Group has a 52 week low of $6.18 and a 52 week high of $11.69. The stock has a market cap of $876.65 million, a P/E ratio of 181.05 and a beta of 1.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The firm had revenue of $101.51 million for the quarter, compared to analysts’ expectations of $85.00 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. During the same period last year, the business earned $0.22 earnings per share. Research analysts anticipate that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Insider Transactions at Bridge Investment Group

In other Bridge Investment Group news, CFO Katherine Elsnab sold 3,078 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 $25,516.62. Following the completion of the sale, the chief financial officer now owns 303,937 shares in the company, valued at approximately $2,519,637.73. The trade was a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Robert Randolph Morse sold 47,252 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $392,664.12. Following the completion of the transaction, the chairman now owns 3,157,271 shares in the company, valued at $26,236,922.01. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,187 shares of company stock valued at $1,204,966. Corporate insiders own 65.90% of the company’s stock.

Hedge Funds Weigh In On Bridge Investment Group

Several institutional investors have recently modified their holdings of BRDG. Quarry LP grew its position in shares of Bridge Investment Group by 22.5% in the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after purchasing an additional 1,535 shares during the period. Bank of New York Mellon Corp lifted its position in 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 acquiring an additional 1,735 shares in the last quarter. Royce & Associates LP boosted its position in shares of Bridge Investment Group by 1.2% during the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after buying an additional 8,909 shares during the period. Jane Street Group LLC acquired a new stake in Bridge Investment Group in the 3rd quarter valued at approximately $102,000. Finally, Paloma Partners Management Co bought a new stake in Bridge Investment Group in the 3rd quarter valued at approximately $110,000. 52.83% of the stock is currently owned by institutional investors and hedge funds.

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.