Bridge Investment Group (NYSE:BRDG) Cut to "Equal Weight" at Wells Fargo & Company

Bridge Investment Group (NYSE:BRDG - Get Free Report) was downgraded by equities research analysts at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating in a research report issued on Thursday, MarketBeat.com reports. They currently have a $11.50 price target on the stock, up from their previous price target of $10.00. Wells Fargo & Company's target price suggests a potential upside of 9.63% from the company's current price.

Several other equities analysts have also recently commented on the company. TD Cowen reduced their target price on Bridge Investment Group from $10.50 to $10.00 and set a "hold" rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Morgan Stanley lowered Bridge Investment Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Finally, UBS Group boosted their price target on shares of Bridge Investment Group from $7.50 to $12.00 and gave the stock a "neutral" rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Bridge Investment Group presently has an average rating of "Hold" and an average price target of $10.90.

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Bridge Investment Group Price Performance

BRDG stock traded up $0.10 during mid-day trading on Thursday, reaching $10.49. 560,819 shares of the company traded hands, compared to its average volume of 312,357. The company has a fifty day moving average price of $8.21 and a 200-day moving average price of $9.01. The company has a market capitalization of $1.27 billion, a P/E ratio of 262.32 and a beta of 1.55. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $11.69. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The company had revenue of $81.96 million during the quarter, compared to analysts' expectations of $82.02 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. As a group, analysts anticipate that Bridge Investment Group will post 0.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, Vice Chairman Dean Allara sold 10,438 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $86,531.02. Following the transaction, the insider now directly owns 683,606 shares of the company's stock, valued at approximately $5,667,093.74. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Katherine Elsnab sold 3,078 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $25,516.62. Following the completion of the sale, the chief financial officer now directly owns 303,937 shares of the company's stock, valued at approximately $2,519,637.73. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,187 shares of company stock valued at $1,204,966 over the last quarter. 65.90% of the stock is owned by corporate insiders.

Institutional Trading of Bridge Investment Group

A number of institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC purchased a new stake in Bridge Investment Group during the 4th quarter valued at $89,000. Aquatic Capital Management LLC purchased a new stake in shares of Bridge Investment Group during the fourth quarter worth about $95,000. Jane Street Group LLC purchased a new stake in shares of Bridge Investment Group during the third quarter worth about $102,000. Paloma Partners Management Co purchased a new stake in shares of Bridge Investment Group during the third quarter worth about $110,000. Finally, XTX Topco Ltd purchased a new stake in Bridge Investment Group in the 3rd quarter worth approximately $127,000. Hedge funds and other 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.