Bridge Investment Group (NYSE:BRDG) Shares Gap Up on Better-Than-Expected Earnings

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) gapped up prior to trading on Monday following a better than expected earnings announcement. The stock had previously closed at $7.92, but opened at $10.56. Bridge Investment Group shares last traded at $10.63, with a volume of 978,802 shares.

The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. TD Cowen reduced their price target on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their price target on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.40.

Insider Activity

In related news, Vice Chairman Dean Allara sold 10,877 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was 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 directly owns 662,473 shares in the company, valued at $5,505,150.63. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Slager sold 11,403 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 value 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. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,187 shares of company stock worth $1,204,966. 65.90% of the stock is currently owned by insiders.

Institutional Trading of Bridge Investment Group

A number of institutional investors have recently bought and sold shares of BRDG. Royce & Associates LP lifted its position in Bridge Investment Group by 1.2% in the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after buying an additional 8,909 shares during the last quarter. Quest Partners LLC purchased a new stake in Bridge Investment Group in the third quarter worth $448,000. Jennison Associates LLC increased its stake in Bridge Investment Group by 2.3% in 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. FMR LLC increased its stake in Bridge Investment Group by 288.0% in the third quarter. FMR LLC now owns 1,509,690 shares of the company’s stock worth $14,901,000 after purchasing an additional 1,120,549 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in Bridge Investment Group in the third quarter worth $638,000. 52.83% of the stock is currently owned by institutional investors.

Bridge Investment Group Stock Performance

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 business has a 50 day simple moving average of $8.07 and a two-hundred day simple moving average of $8.94. The firm has a market cap of $1.28 billion, a PE ratio of 264.94 and a beta of 1.55.

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.