Bridge Investment Group (NYSE:BRDG) Shares Gap Down - Time to Sell?

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $11.22, but opened at $10.35. Bridge Investment Group shares last traded at $10.14, with a volume of 120,911 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BRDG. TD Cowen lowered shares of Bridge Investment Group from a "buy" rating to a "hold" rating and boosted their price target for the company from $10.00 to $10.50 in a report on Monday, October 14th. Wells Fargo & Company boosted their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. UBS Group raised their target price on Bridge Investment Group from $7.00 to $11.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley upped their price target on Bridge Investment Group from $11.00 to $14.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.70.

Bridge Investment Group Stock Performance

The firm has a 50-day simple moving average of $9.68 and a two-hundred day simple moving average of $8.29. 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 company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -92.45 and a beta of 1.63.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $104.76 million for 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 quarter last year, the firm earned $0.20 earnings per share. As a group, sell-side analysts forecast that Bridge Investment Group Holdings Inc. will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Albion Financial Group UT bought a new position in shares of Bridge Investment Group in the 2nd quarter valued at approximately $37,000. Quarry LP grew its holdings in Bridge Investment Group by 22.5% during the second quarter. Quarry LP now owns 8,350 shares of the company's stock valued at $62,000 after purchasing an additional 1,535 shares during the last quarter. HBK Sorce Advisory LLC raised its position in shares of Bridge Investment Group by 23.4% in the first quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company's stock valued at $146,000 after purchasing an additional 4,035 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Bridge Investment Group by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company's stock worth $411,000 after buying an additional 1,735 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Bridge Investment Group by 22.0% during the 2nd quarter. Marshall Wace LLP now owns 114,769 shares of the company's stock worth $852,000 after buying an additional 20,726 shares during the period. Institutional investors own 52.83% of the company's stock.

About Bridge Investment Group

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.

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