Bridge Investment Group (NYSE:BRDG) Receives Neutral Rating from JPMorgan Chase & Co.

Bridge Investment Group (NYSE:BRDG)‘s stock had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research note issued on Tuesday,Benzinga reports. They currently have a $10.00 target price on the stock, down from their previous target price of $12.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 20.92% from the stock’s previous close.

Several other analysts also recently weighed in on BRDG. Wells Fargo & Company boosted their target price 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. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. TD Cowen cut their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Finally, UBS Group lifted their price target on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.70.

Bridge Investment Group Price Performance

NYSE BRDG opened at $8.27 on Tuesday. The firm’s fifty day simple moving average is $9.49 and its two-hundred day simple moving average is $8.89. The firm has a market capitalization of $1.00 billion, a P/E ratio of 206.80 and a beta of 1.57. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. Bridge Investment Group has a 12-month low of $6.18 and a 12-month high of $11.69.

Bridge Investment Group (NYSE:BRDG) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The business had revenue of $101.51 million for the quarter, compared to analyst estimates of $85.00 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. During the same period in the prior year, the company earned $0.22 earnings per share. Analysts forecast that Bridge Investment Group will post 0.68 EPS for the current fiscal year.

Insider Buying and Selling at Bridge Investment Group

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 45,343 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 $375,893.47. Following the sale, the chairman now owns 3,249,076 shares in the company, valued at approximately $26,934,840.04. This represents a 1.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Dean Allara sold 10,438 shares of Bridge Investment Group stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 145,187 shares of company stock valued at $1,204,966. 65.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quarry LP increased its stake 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 valued at $62,000 after purchasing an additional 1,535 shares in the last quarter. Jane Street Group LLC acquired a new stake in Bridge Investment Group in the third quarter valued at approximately $102,000. Paloma Partners Management Co purchased a new stake in shares of Bridge Investment Group in the third quarter valued at approximately $110,000. XTX Topco Ltd acquired a new position in shares of Bridge Investment Group during the 3rd quarter worth approximately $127,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Bridge Investment Group by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after buying an additional 1,735 shares in the last quarter. Institutional investors and hedge funds 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.