Bridge Investment Group (NYSE:BRDG) Lowered to Hold at TD Cowen

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

A number of other analysts have also weighed in on BRDG. Morgan Stanley raised their price objective on shares of Bridge Investment Group from $11.00 to $14.00 and gave the company an overweight rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their price objective 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $10.80.

Bridge Investment Group Price Performance

Shares of NYSE BRDG opened at $10.42 on Monday. The company has a 50 day simple moving average of $8.68 and a two-hundred day simple moving average of $7.82. Bridge Investment Group has a fifty-two week low of $6.18 and a fifty-two week high of $10.76. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -43.40 and a beta of 1.65. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.21.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating 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 business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $79.05 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. Analysts expect that Bridge Investment Group will post 0.77 EPS for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.13 per share. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.12. 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 4.99%. Bridge Investment Group’s dividend payout ratio is -216.67%.

Insiders Place Their Bets

In other news, COO Adam O’farrell sold 3,770 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total transaction of $30,273.10. Following the transaction, the chief operating officer now directly owns 448,167 shares of the company’s stock, valued at $3,598,781.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Adam O’farrell sold 3,770 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total transaction of $30,273.10. Following the completion of the sale, the chief operating officer now owns 448,167 shares of the company’s stock, valued at $3,598,781.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Robert Randolph Morse sold 25,823 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $8.26, for a total transaction of $213,297.98. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,366 shares of company stock valued at $687,133. Company insiders own 65.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BRDG. Quarry LP grew its holdings in Bridge Investment Group by 22.5% during the second quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after purchasing an additional 1,535 shares during the period. Marshall Wace LLP lifted its position in shares of Bridge Investment Group by 22.0% during the 2nd quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock valued at $852,000 after buying an additional 20,726 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of Bridge Investment Group by 21.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock valued at $1,273,000 after acquiring an additional 30,620 shares during the period. Bank of New York Mellon Corp increased its holdings in 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. Finally, Albion Financial Group UT bought a new stake in Bridge Investment Group during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 52.83% of the company’s stock.

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.