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

JPMorgan Chase & Co. reiterated their neutral rating on shares of Bridge Investment Group (NYSE:BRDG) in a research report sent to investors on Tuesday, Marketbeat.com reports. They currently have a $10.00 target price on the stock, down from their previous target price of $12.00.

Several other equities research analysts have also weighed in on BRDG. Wells Fargo & Company increased their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. UBS Group increased their price objective on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $14.00 to $11.00 in a research note on Friday, November 8th. Finally, TD Cowen dropped their price target on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.70.

Bridge Investment Group Trading Down 10.0 %

NYSE BRDG opened at $7.47 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. Bridge Investment Group has a one year low of $6.18 and a one year high of $11.69. The company has a 50-day simple moving average of $9.43 and a 200-day simple moving average of $8.89. The firm has a market capitalization of $904.50 million, a PE ratio of 186.80 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $101.51 million during 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 quarter in the previous year, the firm earned $0.22 earnings per share. On average, equities analysts forecast that Bridge Investment Group will post 0.68 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.10 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 5.35%. Bridge Investment Group’s dividend payout ratio is presently 1,000.00%.

Insiders Place Their Bets

In related news, CEO Jonathan Slager sold 11,403 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $94,530.87. Following the completion of the transaction, the chief executive officer now owns 962,481 shares of the company’s stock, valued at $7,978,967.49. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Robert Randolph Morse sold 45,343 shares of Bridge Investment Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $375,893.47. Following the transaction, the chairman now directly owns 3,249,076 shares in the company, valued at approximately $26,934,840.04. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,187 shares of company stock worth $1,204,966. 65.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bridge Investment Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP raised its holdings 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 worth $62,000 after purchasing an additional 1,535 shares in the last quarter. Jane Street Group LLC acquired a new position in Bridge Investment Group in the third quarter worth approximately $102,000. Paloma Partners Management Co bought a new position in shares of Bridge Investment Group in the third quarter valued at $110,000. XTX Topco Ltd acquired a new stake in shares of Bridge Investment Group during the 3rd quarter valued at $127,000. Finally, Bank of New York Mellon Corp boosted its stake 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 worth $411,000 after acquiring an additional 1,735 shares in the last quarter. 52.83% of the stock is owned by institutional investors and hedge funds.

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.