Bridge Investment Group (NYSE:BRDG) Downgraded to "Equal Weight" Rating by Morgan Stanley

Bridge Investment Group (NYSE:BRDG - Get Free Report) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a report released on Friday, MarketBeat reports. They currently have a $11.00 target price on the stock, down from their previous target price of $14.00. Morgan Stanley's price objective suggests a potential upside of 7.84% from the company's current price.

Several other research firms have also recently weighed in on BRDG. TD Cowen cut Bridge Investment Group from a "buy" rating to a "hold" rating and raised their price target for the company from $10.00 to $10.50 in a report on Monday, October 14th. Wells Fargo & Company raised their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an "overweight" rating in a report on Wednesday, October 9th. Finally, UBS Group upped their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Bridge Investment Group currently has a consensus rating of "Hold" and an average target price of $11.10.

Bridge Investment Group Price Performance

BRDG traded up $0.20 on Friday, hitting $10.20. 381,878 shares of the company's stock traded hands, compared to its average volume of 237,375. Bridge Investment Group has a one year low of $6.18 and a one year high of $11.69. The company's 50 day simple moving average is $9.72 and its 200-day simple moving average is $8.30. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -90.95 and a beta of 1.63.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $104.76 million for the quarter, compared to the consensus estimate 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 posted $0.20 EPS. As a group, research analysts anticipate that Bridge Investment Group will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Bridge Investment Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Albion Financial Group UT bought a new stake in shares of Bridge Investment Group during the second quarter worth $37,000. Quarry LP increased its stake in Bridge Investment Group by 22.5% in the 2nd quarter. Quarry LP now owns 8,350 shares of the company's stock worth $62,000 after buying an additional 1,535 shares during the period. HBK Sorce Advisory LLC lifted its holdings in 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 boosted its position in 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 buying an additional 1,735 shares during the period. Finally, Quest Partners LLC bought a new position in Bridge Investment Group in the 3rd quarter worth about $448,000. 52.83% of the stock is currently 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.