Wells Fargo & Company Downgrades Bridge Investment Group (NYSE:BRDG) to Equal Weight

Bridge Investment Group (NYSE:BRDG) was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday,Finviz reports. They presently have a $11.50 price target on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.05% from the company’s previous close.

A number of other brokerages also recently issued reports on BRDG. UBS Group boosted their price target on shares of Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday. TD Cowen dropped their price target 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Finally, Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.90.

Bridge Investment Group Trading Up 1.7 %

BRDG opened at $10.45 on Thursday. Bridge Investment Group has a fifty-two week low of $6.18 and a fifty-two week high of $11.69. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 261.32 and a beta of 1.56. The company’s 50 day moving average price is $8.13 and its two-hundred day moving average price is $8.97.

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

Insiders Place Their Bets

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

Institutional Trading of Bridge Investment Group

Several institutional investors have recently made changes to their positions in BRDG. EP Wealth Advisors LLC bought a new stake in shares of Bridge Investment Group in the 4th quarter worth $89,000. Aquatic Capital Management LLC bought a new position in Bridge Investment Group during the fourth quarter valued at about $95,000. Jane Street Group LLC bought a new position in Bridge Investment Group during the third quarter valued at about $102,000. Paloma Partners Management Co bought a new position in Bridge Investment Group during the third quarter valued at about $110,000. Finally, XTX Topco Ltd bought a new position in Bridge Investment Group during the third quarter valued at about $127,000. 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.