UBS Group Issues Positive Forecast for Bridge Investment Group (NYSE:BRDG) Stock Price

Bridge Investment Group (NYSE:BRDG) had its target price lifted by UBS Group from $7.50 to $12.00 in a research note published on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other research firms have also commented on BRDG. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $14.00 to $11.00 in a report on Friday, November 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Wells Fargo & Company cut their target price on Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Finally, TD Cowen reduced their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.60.

Bridge Investment Group Trading Up 1.7 %

Shares of BRDG opened at $10.45 on Wednesday. The stock’s fifty day simple moving average is $8.13 and its 200-day simple moving average is $8.97. 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 $1.27 billion, a PE ratio of 261.32 and a beta of 1.56. 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 issued its earnings results on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The company had revenue of $81.96 million for the quarter, compared to analyst estimates of $82.02 million. As a group, research analysts predict that Bridge Investment Group will post 0.68 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.11 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.21%. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s dividend payout ratio is currently 1,000.00%.

Insider Buying and Selling

In other Bridge Investment Group news, CFO Katherine Elsnab sold 3,078 shares of the stock in a transaction dated Thursday, January 2nd. The stock was 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 in the company, valued at $2,519,637.73. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Dean Allara sold 10,438 shares of Bridge Investment Group stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $86,531.02. Following the transaction, the insider now owns 683,606 shares in the company, valued at $5,667,093.74. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,187 shares of company stock valued at $1,204,966. 73.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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