Wells Fargo & Company Lowers Bridge Investment Group (NYSE:BRDG) Price Target to $11.00

Bridge Investment Group (NYSE:BRDG) had its target price dropped by equities researchers at Wells Fargo & Company from $11.50 to $11.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 8.89% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. UBS Group boosted their target price on Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Bridge Investment Group has an average rating of “Hold” and an average price target of $10.80.

Bridge Investment Group Price Performance

BRDG stock opened at $10.10 on Thursday. The business has a 50 day moving average price of $8.65 and a 200 day moving average price of $9.17. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 252.61 and a beta of 1.47. Bridge Investment Group has a fifty-two week low of $6.31 and a fifty-two week high of $11.69. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last posted its earnings results on Monday, February 24th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $81.96 million during the quarter, compared to analysts’ expectations of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. Equities research analysts anticipate 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 news, CFO Katherine Elsnab sold 3,078 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $25,516.62. Following the transaction, the chief financial officer now owns 303,937 shares of the company’s stock, valued at approximately $2,519,637.73. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Dean Allara sold 10,877 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 662,473 shares in the company, valued at approximately $5,505,150.63. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,187 shares of company stock worth $1,204,966. 65.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Bridge Investment Group in the third quarter valued at approximately $102,000. EP Wealth Advisors LLC acquired a new position in Bridge Investment Group during the fourth quarter worth $89,000. Paloma Partners Management Co acquired a new position in Bridge Investment Group during the third quarter worth $110,000. Aquatic Capital Management LLC acquired a new position in Bridge Investment Group during the fourth quarter worth $95,000. Finally, XTX Topco Ltd acquired a new position in Bridge Investment Group during the third quarter worth $127,000. Institutional investors and hedge funds own 52.83% of the company’s stock.

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.