Bridge Investment Group (NYSE:BRDG) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Bridge Investment Group (NYSE:BRDG) announced its quarterly earnings results on Monday. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02, Zacks reports. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%.

Bridge Investment Group Stock Performance

Shares of Bridge Investment Group stock traded up $2.48 during trading on Monday, hitting $10.40. 744,755 shares of the stock were exchanged, compared to its average volume of 179,034. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 263.69 and a beta of 1.55. The company has a fifty day moving average price of $8.04 and a 200-day moving average price of $8.92. Bridge Investment Group has a 1-year low of $6.18 and a 1-year high of $11.69. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. TD Cowen decreased their price target on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $14.00 to $11.00 in a report on Friday, November 8th. Finally, Wells Fargo & Company decreased their price target on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.40.

Insider Transactions at Bridge Investment Group

In related news, Vice Chairman Dean Allara sold 10,877 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $90,387.87. Following the transaction, the insider now owns 662,473 shares in the company, valued at approximately $5,505,150.63. This represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Katherine Elsnab sold 3,078 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $25,516.62. Following the completion of the transaction, the chief financial officer now owns 303,937 shares in the company, valued at approximately $2,519,637.73. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,187 shares of company stock worth $1,204,966 in the last ninety days. Insiders own 65.90% 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.