Bridge Investment Group (NYSE: BRDG – Get Rating) had its price target reduced by Wells Fargo & Company research analysts from $22.00 to $19.00 in a note released Wednesday to investors, Benzinga reports. The company currently has an “overweight” rating on the stock. Wells Fargo & Company’s price target indicates a potential upside of 27.95% from the current stock price.
A number of other research analysts have also weighed in on BRDG recently. Citigroup lowered its price target on Bridge Investment Group from $25.00 to $24.00 and set a “buy” rating on the stock in a Tuesday, April 12 report. Morgan Stanley raised its price target on Bridge Investment Group to $26.00 and gave the company an “overweight” rating in a Tuesday, May 17 report. One equity research analyst gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “moderate buy” and a consensus target price of $20.60.
BRDG shares opened at $14.85 on Wednesday. Bridge Investment Group has a 1-year low of $13.74 and a 1-year high of $25.61. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt ratio of 0.23. The company has a market capitalization of $431.99 million and a price-earnings ratio of 3.07. The stock’s fifty-day simple moving average is $16.69 and its 200-day simple moving average is $19.28.
Bridge Investment Group (NYSE:BRDG – Get Rating) last released its quarterly results on Monday, May 9. The company reported earnings per share of $0.28 for the quarter, beating consensus analyst estimates of $0.17 by $0.11. Bridge Investment Group achieved a return on equity of 5.41% and a net margin of 29.40%. The company had revenue of $104.13 million for the quarter. On average, sell-side analysts expect Bridge Investment Group to post 1.1 EPS for the current year.
A number of institutional investors and hedge funds have recently increased or reduced their stake in BRDG. Captrust Financial Advisors increased its position in Bridge Investment Group by 89.7% during the first quarter. Captrust Financial Advisors now owns 1,231 shares of the company valued at $25,000 after buying an additional 582 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Bridge Investment Group by 769.5% in the first quarter. JPMorgan Chase & Co. now owns 8,373 shares of the company worth $170,000 after buying an additional 7,410 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Bridge Investment Group in the fourth quarter worth approximately $186,000. PDT Partners LLC acquired a new stake in shares of Bridge Investment Group in the fourth quarter worth approximately $397,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Bridge Investment Group in the first quarter worth approximately $408,000. 65.49% of the shares are held by hedge funds and other institutional investors.
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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