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

Bridge Investment Group Holdings Inc. (NYSE:BRDG)’s share price gapped up before the market opened on Monday after the company announced better than expected quarterly earnings. 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 traded.

The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BRDG shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. TD Cowen dropped their price objective on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their price target on Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.40.

Insiders Place Their Bets

In related news, CEO Jonathan Slager sold 11,403 shares of Bridge Investment Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction 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 $7,978,967.49. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Adam O’farrell sold 6,655 shares of Bridge Investment Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $55,169.95. Following the sale, the chief operating officer now directly owns 551,512 shares of the company’s stock, valued at $4,572,034.48. This trade represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,187 shares of company stock valued at $1,204,966. 65.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bridge Investment Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of Bridge Investment Group by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 1,295,065 shares of the company’s stock worth $10,879,000 after purchasing an additional 8,218 shares during the period. Royce & Associates LP lifted its holdings in shares of Bridge Investment Group by 1.2% during the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after purchasing an additional 8,909 shares during the period. Jane Street Group LLC acquired a new stake in shares of Bridge Investment Group during the third quarter worth about $102,000. EP Wealth Advisors LLC purchased a new position in Bridge Investment Group during the fourth quarter valued at approximately $89,000. Finally, Paloma Partners Management Co purchased a new position in Bridge Investment Group during the third quarter valued at approximately $110,000. Institutional investors and hedge funds own 52.83% of the company’s stock.

Bridge Investment Group Stock Performance

The firm has a 50-day moving average of $8.07 and a two-hundred day moving average of $8.94. 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 capitalization 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.