Wells Fargo & Company Issues Pessimistic Forecast for Bridge Investment Group (NYSE:BRDG) Stock Price

Bridge Investment Group (NYSE:BRDG) had its price target cut by Wells Fargo & Company from $11.00 to $9.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

BRDG has been the topic of several other reports. UBS Group raised their price target on Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. restated a “neutral” rating and set a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Bridge Investment Group presently has an average rating of “Hold” and a consensus target price of $10.40.

Bridge Investment Group Price Performance

Shares of BRDG stock opened at $7.63 on Tuesday. The firm has a market cap of $945.19 million, a price-to-earnings ratio of 190.85 and a beta of 1.46. Bridge Investment Group has a 12 month low of $6.49 and a 12 month high of $11.69. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average price of $9.01 and a 200 day moving average price of $9.24.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The company had revenue of $81.96 million during the quarter, compared to analysts’ expectations of $82.02 million. Research analysts expect that Bridge Investment Group will post 0.68 EPS for the current year.

Bridge Investment Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.11 dividend. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 5.77%. The ex-dividend date of this dividend was Friday, March 14th. Bridge Investment Group’s dividend payout ratio is 488.89%.

Hedge Funds Weigh In On Bridge Investment Group

Several institutional investors and hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC bought a new stake in shares of Bridge Investment Group in the fourth quarter valued at about $89,000. Aquatic Capital Management LLC acquired a new stake in Bridge Investment Group in the 4th quarter valued at approximately $95,000. Jane Street Group LLC bought a new stake in Bridge Investment Group in the 3rd quarter valued at approximately $102,000. XTX Topco Ltd acquired a new position in Bridge Investment Group during the 3rd quarter worth approximately $127,000. Finally, EntryPoint Capital LLC bought a new position in shares of Bridge Investment Group during the 4th quarter worth approximately $133,000. 52.83% of the stock is currently 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.