Bridge Investment Group (NYSE: BRDG – Get a Rating) saw its target price drop by Morgan Stanley research analysts from $26.00 to $25.00 in a research report released Wednesday, Benzinga reports. The company currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 26.90% from the company’s current price.
The BRDG has been the subject of several other research reports. Citigroup cut its price target on Bridge Investment Group shares from $25.00 to $24.00 and set a “buy” rating for the company in a Tuesday, April 12 report. Wells Fargo & Company cut its price target on Bridge Investment Group shares from $24.00 to $22.00 and set an “overweight” rating for the company in a report released Tuesday. Finally, Zacks Investment Research downgraded shares of Bridge Investment Group from a “hold” rating to a “sell” rating in a Wednesday, March 2 research report. One equity research analyst rated the stock with a sell rating, one gave the company a hold rating and four gave the company’s stock a buy rating. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $22.00.
Shares of Bridge Investment Group rose $0.11 on Wednesday, hitting $19.70. The company had a trading volume of 287 shares, compared to its average volume of 153,460. Bridge Investment Group has a 12-month low of $14.05 and a 12-month high of $25.61. The company has a quick ratio of 2.81, a current ratio of 2.81 and a leverage ratio of 0.27. The company has a 50-day simple moving average of $19.81.
Bridge Investment Group (NYSE: BRDG – Get Rating) last released its quarterly results on Wednesday, March 2. The company reported earnings per share of $0.23 for the quarter, missing Thomson Reuters consensus estimate of $0.24 per ($0.01). The company posted revenue of $107.32 million in the quarter, versus analyst estimates of $72.80 million. Bridge Investment Group achieved a net margin of 41.64% and a return on equity of 17.23%. Equity analysts expect Bridge Investment Group to post EPS of 1.03 for the current fiscal year.
Several hedge funds have recently changed their positions in BRDG. Jennison Associates LLC purchased a new stake in shares of Bridge Investment Group in the third quarter at a value of $32,457,000. Franklin Resources Inc. acquired a new stake in Bridge Investment Group during the third quarter valued at $29,577,000. Conversant Capital LLC purchased a new stake in Bridge Investment Group during the fourth quarter at a value of $30,463,000. Morgan Stanley bought a new stake in Bridge Investment Group during the third quarter worth $14,000,000. Finally, Millennium Management LLC acquired a new stake in Bridge Investment Group during the third quarter at a value of $9,628,000. 65.28% of the shares are currently held by institutional investors and hedge funds.
Bridge Investment Group Company Profile (Get an assessment)
Bridge Investment Group Holdings Inc is engaged in real estate investment management business in the United States. It manages capital on behalf of around 100 global institutions and 6,500 individual investors through approximately 25 investment vehicles. The company was founded in 2009 and is based in Salt Lake City, Utah.
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