UBS Group Increases Bridge Investment Group (NYSE:BRDG) Price Target to $11.00

Bridge Investment Group (NYSE:BRDG) had its price target raised by equities research analysts at UBS Group from $7.00 to $11.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 4.96% from the company’s previous close.

Several other research analysts also recently issued reports on BRDG. Wells Fargo & Company upped their price target on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. TD Cowen cut Bridge Investment Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $10.00 to $10.50 in a report on Monday, October 14th. Finally, Morgan Stanley increased their target price on Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bridge Investment Group presently has a consensus rating of “Moderate Buy” and an average target price of $11.70.

Bridge Investment Group Price Performance

Shares of BRDG stock opened at $10.48 on Tuesday. Bridge Investment Group has a twelve month low of $6.18 and a twelve month high of $10.95. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The business has a fifty day simple moving average of $9.06 and a 200 day simple moving average of $8.00. The company has a market cap of $1.27 billion, a P/E ratio of -43.67 and a beta of 1.65.

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

Hedge Funds Weigh In On Bridge Investment Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP lifted its holdings in Bridge Investment Group by 22.5% in the second quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after buying an additional 1,535 shares during the period. Bank of New York Mellon Corp raised 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 acquiring an additional 1,735 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of Bridge Investment Group by 23.4% in the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after purchasing an additional 4,035 shares during the period. Albion Financial Group UT bought a new stake in shares of Bridge Investment Group during the 2nd quarter valued at about $37,000. Finally, Lord Abbett & CO. LLC grew its stake in Bridge Investment Group by 0.8% during the first quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock worth $5,898,000 after purchasing an additional 6,851 shares during the period. 52.83% of the stock is 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.