Bridge Investment Group (NYSE:BRDG) Price Target Cut to $10.00 by Analysts at Wells Fargo & Company

Bridge Investment Group (NYSE:BRDG - Get Free Report) had its price target dropped by analysts at Wells Fargo & Company from $12.00 to $10.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 37.74% from the stock's current price.

BRDG has been the subject of several other reports. UBS Group increased their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. TD Cowen reduced their price objective on shares of Bridge Investment Group from $10.50 to $10.00 and set a "hold" rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. restated a "neutral" rating and set a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Finally, Morgan Stanley lowered Bridge Investment Group from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Bridge Investment Group currently has an average rating of "Hold" and a consensus target price of $10.40.

Bridge Investment Group Stock Performance

BRDG stock traded down $0.01 during midday trading on Tuesday, reaching $7.26. 117,703 shares of the company's stock traded hands, compared to its average volume of 320,013. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $11.69. The stock has a market cap of $879.07 million, a P/E ratio of 181.55 and a beta of 1.57. The stock's 50-day moving average is $9.09 and its 200 day moving average is $8.90.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The company had revenue of $101.51 million during the quarter, compared to analysts' expectations of $85.00 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. During the same quarter last year, the company earned $0.22 earnings per share. As a group, analysts anticipate that Bridge Investment Group will post 0.68 EPS for the current year.

Insider Activity at Bridge Investment Group

In related news, CEO Jonathan Slager sold 11,403 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $94,530.87. Following the sale, the chief executive officer now owns 962,481 shares in the company, valued at approximately $7,978,967.49. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Dean Allara sold 10,877 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $90,387.87. Following the transaction, the insider now owns 662,473 shares of the company's stock, valued at $5,505,150.63. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,187 shares of company stock valued at $1,204,966. Corporate insiders own 65.90% of the company's stock.

Institutional Trading of Bridge Investment Group

Several hedge funds have recently made changes to their positions in BRDG. FMR LLC increased its position in Bridge Investment Group by 288.0% during the third quarter. FMR LLC now owns 1,509,690 shares of the company's stock valued at $14,901,000 after acquiring an additional 1,120,549 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Bridge Investment Group by 2.3% during the 3rd 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. Rockefeller Capital Management L.P. bought a new position in Bridge Investment Group during the 3rd quarter valued at about $638,000. Quest Partners LLC purchased a new stake in Bridge Investment Group in the 3rd quarter worth about $448,000. Finally, Geode Capital Management LLC raised its position in Bridge Investment Group by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 407,709 shares of the company's stock worth $4,026,000 after purchasing an additional 40,975 shares during the period. 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.