Bridge Investment Group (NYSE:BRDG) PT Raised to $11.00

Bridge Investment Group (NYSE:BRDG - Free Report) had its price target raised by UBS Group from $7.00 to $11.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on BRDG. Wells Fargo & Company increased their price objective on Bridge Investment Group from $11.00 to $11.50 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Morgan Stanley increased their price objective on Bridge Investment Group from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Finally, TD Cowen cut Bridge Investment Group from a "buy" rating to a "hold" rating and increased their price objective for the stock from $10.00 to $10.50 in a report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.70.

Bridge Investment Group Trading Up 0.4 %

BRDG stock traded up $0.04 during trading on Tuesday, hitting $10.68. 259,363 shares of the company traded hands, compared to its average volume of 236,374. The firm has a market capitalization of $1.29 billion, a PE ratio of -44.50 and a beta of 1.65. Bridge Investment Group has a 1 year low of $6.18 and a 1 year high of $10.95. The company has a 50-day moving average of $8.99 and a 200-day moving average of $7.97. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.21.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last issued its earnings results 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. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. The company had revenue of $104.76 million during the quarter, compared to analysts' expectations of $79.05 million. During the same period in the prior year, the business posted $0.20 EPS. Analysts predict that Bridge Investment Group will post 0.77 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.13 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 4.87%. This is a positive change from Bridge Investment Group's previous quarterly dividend of $0.12. Bridge Investment Group's dividend payout ratio is currently -216.67%.

Insider Transactions at Bridge Investment Group

In other news, CEO Jonathan Slager sold 6,409 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total value of $51,464.27. Following the completion of the transaction, the chief executive officer now owns 773,884 shares of the company's stock, valued at approximately $6,214,288.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jonathan Slager sold 6,409 shares of the firm's stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total transaction of $51,464.27. Following the completion of the transaction, the chief executive officer now owns 773,884 shares of the company's stock, valued at $6,214,288.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam O'farrell sold 3,770 shares of the firm's stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total value of $30,273.10. Following the transaction, the chief operating officer now directly owns 448,167 shares of the company's stock, valued at approximately $3,598,781.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,305 shares of company stock valued at $339,709. Corporate insiders own 65.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Albion Financial Group UT bought a new position in Bridge Investment Group during the 2nd quarter valued at approximately $37,000. Quarry LP increased its holdings in shares of 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 purchasing an additional 1,535 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Bridge Investment Group by 23.4% in the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company's stock worth $146,000 after purchasing an additional 4,035 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 worth $411,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Marshall Wace LLP increased 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 worth $852,000 after purchasing an additional 20,726 shares in the last quarter. 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.