TD Cowen Lowers Bridge Investment Group (NYSE:BRDG) Price Target to $10.00

Bridge Investment Group (NYSE:BRDG) had its price target dropped by stock analysts at TD Cowen from $10.50 to $10.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target suggests a potential upside of 3.52% from the company’s previous close.

A number of other analysts have also issued reports on the company. UBS Group increased their target price on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $14.00 to $11.00 in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Bridge Investment Group Stock Performance

Shares of NYSE BRDG opened at $9.66 on Tuesday. The stock has a fifty day moving average price of $9.86 and a two-hundred day moving average price of $8.40. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $1.17 billion, a P/E ratio of 241.56 and a beta of 1.63. 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 issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) 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 the consensus estimate of $85.00 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. During the same period in the previous year, the business posted $0.22 earnings per share. Research analysts forecast that Bridge Investment Group will post 0.7 EPS for the current fiscal year.

Institutional Trading of Bridge Investment Group

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of Bridge Investment Group by 288.0% during the 3rd quarter. FMR LLC now owns 1,509,690 shares of the company’s stock worth $14,901,000 after buying an additional 1,120,549 shares during the last quarter. Thornburg Investment Management Inc. raised its holdings in Bridge Investment Group by 181.2% in the 1st quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock valued at $5,358,000 after acquiring an additional 504,812 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Bridge Investment Group during the first quarter worth approximately $966,000. Jennison Associates LLC increased its holdings in shares of Bridge Investment Group by 2.3% during the third quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock worth $33,271,000 after purchasing an additional 74,779 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Bridge Investment Group during the third quarter worth approximately $448,000. 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.