Bridge Investment Group (NYSE:BRDG) Downgraded by TD Cowen

TD Cowen lowered shares of Bridge Investment Group (NYSE:BRDG) from a buy rating to a hold rating in a report published on Monday, MarketBeat.com reports. TD Cowen currently has $10.50 target price on the stock, up from their prior target price of $10.00.

Other analysts also recently issued research reports about the stock. Morgan Stanley upped their price target on shares of Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased 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 note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Bridge Investment Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.80.

Bridge Investment Group Stock Performance

NYSE BRDG opened at $10.82 on Monday. The company has a fifty day moving average of $8.81 and a two-hundred day moving average of $7.87. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.21. Bridge Investment Group has a 1 year low of $6.18 and a 1 year high of $10.88. The company has a market capitalization of $1.31 billion, a PE ratio of -45.06 and a beta of 1.65.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. The firm had revenue of $104.76 million for the quarter, compared to the consensus estimate of $79.05 million. During the same quarter last year, the business posted $0.20 EPS. As a group, analysts expect that Bridge Investment Group will post 0.77 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.52 dividend on an annualized basis and a yield of 4.81%. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.12. Bridge Investment Group’s dividend payout ratio is presently -216.67%.

Insider Activity

In related news, Chairman Robert Randolph Morse sold 25,823 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $8.26, for a total value of $213,297.98. Following the completion of the sale, the chairman now owns 2,605,033 shares in the company, valued at $21,517,572.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Adam O’farrell sold 3,748 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $8.26, for a total transaction of $30,958.48. Following the transaction, the chief operating officer now directly owns 455,514 shares of the company’s stock, valued at $3,762,545.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Robert Randolph Morse sold 25,823 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $8.26, for a total transaction of $213,297.98. Following the completion of the sale, the chairman now owns 2,605,033 shares of the company’s stock, valued at $21,517,572.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,366 shares of company stock valued at $687,133 over the last quarter. Corporate insiders own 65.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in Bridge Investment Group in the 4th quarter valued at approximately $37,000. Albion Financial Group UT acquired a new position in shares of Bridge Investment Group during the 2nd quarter worth $37,000. HBK Sorce Advisory LLC raised its stake in shares of Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock worth $146,000 after buying an additional 4,035 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 worth $411,000 after buying an additional 1,735 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Bridge Investment Group in the 4th quarter valued at about $460,000. 52.83% of the stock is currently owned by institutional investors and hedge funds.

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.