Bridge Investment Group’s (BRDG) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of Bridge Investment Group (NYSE:BRDG) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The firm currently has a $10.00 price objective on the stock, down from their previous price objective of $12.00.

Other analysts also recently issued reports about the company. Wells Fargo & Company boosted their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. TD Cowen lowered their target price on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Finally, UBS Group increased their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Bridge Investment Group presently has an average rating of “Hold” and an average target price of $10.70.

Bridge Investment Group Stock Up 1.2 %

BRDG opened at $7.65 on Tuesday. Bridge Investment Group has a 52 week low of $6.18 and a 52 week high of $11.69. The business has a 50 day moving average price of $9.30 and a two-hundred day moving average price of $8.88. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The company has a market cap of $926.29 million, a PE ratio of 191.30 and a beta of 1.57.

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

Bridge Investment Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 5.23%. Bridge Investment Group’s payout ratio is currently 1,000.00%.

Insider Transactions at Bridge Investment Group

In other news, Chairman Robert Randolph Morse sold 45,343 shares of the firm’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 $375,893.47. Following the transaction, the chairman now directly owns 3,249,076 shares of the company’s stock, valued at approximately $26,934,840.04. This trade represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Dean Allara sold 10,438 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $86,531.02. Following the completion of the sale, the insider now directly owns 683,606 shares of the company’s stock, valued at $5,667,093.74. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 145,187 shares of company stock valued at $1,204,966. 65.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quarry LP grew its position in Bridge Investment Group by 22.5% in the second quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after buying an additional 1,535 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Bridge Investment Group in the third quarter worth $102,000. Paloma Partners Management Co purchased a new position in shares of Bridge Investment Group during the third quarter valued at $110,000. XTX Topco Ltd acquired a new position in Bridge Investment Group during the third quarter valued at $127,000. Finally, Quest Partners LLC purchased a new stake in Bridge Investment Group in the 3rd quarter worth about $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.