TD Cowen Downgrades Bridge Investment Group (NYSE:BRDG) to Hold

Bridge Investment Group (NYSE:BRDG) was downgraded by equities researchers at TD Cowen from a “buy” rating to a “hold” rating in a report released on Monday, MarketBeat reports. They currently have a $10.50 price target on the stock, up from their previous price target of $10.00. TD Cowen’s price objective indicates a potential upside of 0.29% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Wells Fargo & Company boosted their target price on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Morgan Stanley raised their price target on Bridge Investment Group from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.80.

Bridge Investment Group Price Performance

NYSE:BRDG opened at $10.47 on Monday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -43.63 and a beta of 1.65. 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 business has a 50 day simple moving average of $8.74 and a 200-day simple moving average of $7.85. Bridge Investment Group has a 1 year low of $6.18 and a 1 year high of $10.76.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $104.76 million during the quarter, compared to analyst estimates of $79.05 million. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. During the same period in the previous year, the firm earned $0.20 earnings per share. Equities analysts forecast that Bridge Investment Group will post 0.77 EPS for the current year.

Insider Buying and Selling at Bridge Investment Group

In other news, Chairman Robert Randolph Morse sold 25,823 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $8.26, for a total value of $213,297.98. Following the completion of the sale, the chairman now owns 2,605,033 shares of the company’s stock, valued at approximately $21,517,572.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Bridge Investment Group news, insider Dean Allara sold 5,730 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $8.26, for a total transaction of $47,329.80. Following the completion of the sale, the insider now directly owns 555,276 shares of the company’s stock, valued at approximately $4,586,579.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Robert Randolph Morse sold 25,823 shares of Bridge Investment Group stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $8.26, for a total transaction of $213,297.98. Following the completion of the transaction, the chairman now directly owns 2,605,033 shares in the company, valued at approximately $21,517,572.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,366 shares of company stock valued at $687,133 in the last ninety days. Corporate insiders own 65.90% of the company’s stock.

Hedge Funds Weigh In On Bridge Investment Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Thornburg Investment Management Inc. increased its position in shares of Bridge Investment Group by 181.2% in the 1st quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock valued at $5,358,000 after acquiring an additional 504,812 shares during the period. Jennison Associates LLC increased its holdings in Bridge Investment Group by 6.8% in the 1st quarter. Jennison Associates LLC now owns 3,261,218 shares of the company’s stock worth $22,339,000 after buying an additional 206,840 shares during the period. 1832 Asset Management L.P. purchased a new position in Bridge Investment Group during the 1st quarter worth approximately $966,000. Quadrature Capital Ltd acquired a new stake in Bridge Investment Group during the 4th quarter valued at approximately $460,000. Finally, Marshall Wace LLP boosted its holdings in shares of Bridge Investment Group by 22.0% in the 2nd quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock valued at $852,000 after acquiring an additional 20,726 shares during the last quarter. 52.83% of the stock is owned by hedge funds and other institutional investors.

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.