Bridge Investment Group (NYSE:BRDG) Price Target Raised to $11.50

Bridge Investment Group (NYSE:BRDG) had its target price upped by equities researchers at Wells Fargo & Company from $11.00 to $11.50 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 19.42% from the company’s current price.

Bridge Investment Group Stock Up 0.4 %

Bridge Investment Group stock traded up $0.04 during mid-day trading on Wednesday, reaching $9.63. The stock had a trading volume of 16,513 shares, compared to its average volume of 232,741. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -40.04 and a beta of 1.65. Bridge Investment Group has a one year low of $6.18 and a one year high of $10.15. The company has a 50-day moving average price of $8.47 and a two-hundred day moving average price of $7.72.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $79.05 million. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. During the same period last year, the firm posted $0.20 earnings per share. On average, analysts expect that Bridge Investment Group will post 0.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Robert Randolph Morse sold 25,971 shares of Bridge Investment Group stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total transaction of $208,547.13. Following the transaction, the chairman now directly owns 2,554,419 shares of the company’s stock, valued at $20,511,984.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Robert Randolph Morse sold 25,971 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total value of $208,547.13. Following the completion of the transaction, the chairman now owns 2,554,419 shares of the company’s stock, valued at approximately $20,511,984.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jonathan Slager sold 6,371 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $8.26, for a total value of $52,624.46. Following the completion of the sale, the chief executive officer now owns 786,373 shares of the company’s stock, valued at $6,495,440.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,366 shares of company stock valued at $687,133. 65.90% of the stock is owned by company insiders.

Institutional Trading of Bridge Investment Group

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of Bridge Investment Group during the 4th quarter valued at approximately $37,000. Albion Financial Group UT bought a new stake in shares of Bridge Investment Group in the 2nd quarter worth about $37,000. HBK Sorce Advisory LLC raised its position in shares of Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after buying an additional 4,035 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Bridge Investment Group during the fourth quarter worth approximately $460,000. Hedge funds and other institutional investors 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.