JPMorgan Chase & Co. Reaffirms Neutral Rating for Bridge Investment Group (NYSE:BRDG)

Bridge Investment Group (NYSE:BRDG)‘s stock had its “neutral” rating reissued by stock analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $10.00 price objective on the stock, down from their prior price objective of $12.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 30.72% from the stock’s current price.

Several other equities research analysts also recently issued reports on BRDG. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. 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 note on Tuesday, November 12th. UBS Group lifted their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their price target on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.70.

Bridge Investment Group Price Performance

Bridge Investment Group stock opened at $7.65 on Tuesday. The firm has a fifty day moving average of $9.37 and a 200-day moving average of $8.88. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $11.69. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $926.29 million, a P/E ratio of 191.30 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last released 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). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The company had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. During the same period last year, the business earned $0.22 earnings per share. As a group, analysts predict that Bridge Investment Group will post 0.68 EPS for the current year.

Insider Buying and Selling

In other Bridge Investment Group news, COO Adam O’farrell sold 6,655 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $55,169.95. Following the completion of the sale, the chief operating officer now directly owns 551,512 shares in the company, valued at $4,572,034.48. This represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Dean Allara sold 10,877 shares of the firm’s stock in a transaction dated 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 approximately $5,505,150.63. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,187 shares of company stock valued at $1,204,966. Insiders own 65.90% of the company’s stock.

Hedge Funds Weigh In On Bridge Investment Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRDG. Quarry LP lifted its holdings in shares of Bridge Investment Group by 22.5% in 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 in the last quarter. Jane Street Group LLC purchased a new stake in Bridge Investment Group in the 3rd quarter worth about $102,000. Paloma Partners Management Co acquired a new stake in Bridge Investment Group during the 3rd quarter worth about $110,000. XTX Topco Ltd purchased a new position in Bridge Investment Group during the 3rd quarter valued at about $127,000. Finally, 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 valued at $411,000 after purchasing an additional 1,735 shares during the period. Institutional investors and hedge funds own 52.83% of the company’s stock.

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.