Morgan Stanley Increases Bridge Investment Group (NYSE:BRDG) Price Target to $14.00

14 Oct 2024, 06:09 by Sarita Garza · The Markets Daily

Bridge Investment Group (NYSE:BRDG – Free Report) had its target price upped by Morgan Stanley from $11.00 to $14.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Wells Fargo & Company upped their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock an overweight rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $10.90.

View Our Latest Report on BRDG

Bridge Investment Group Price Performance

Shares of BRDG opened at $10.52 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. Bridge Investment Group has a twelve month low of $6.18 and a twelve month high of $10.76. The stock has a market capitalization of $1.27 billion, a P/E ratio of -95.63 and a beta of 1.65. The company has a 50 day moving average of $8.61 and a 200-day moving average of $7.80.

Bridge Investment Group (NYSE:BRDG – Get Free Report) last released its 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. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. The business had revenue of $104.76 million during the quarter, compared to the consensus estimate of $79.05 million. During the same quarter last year, the firm earned $0.20 earnings per share. As a group, equities research analysts forecast that Bridge Investment Group will post 0.77 EPS for the current fiscal year.

Bridge Investment Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.13 per share. 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 4.94%. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.12. Bridge Investment Group’s dividend payout ratio (DPR) is presently -472.68%.

Insider Buying and Selling at Bridge Investment Group

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 25,971 shares of Bridge Investment Group stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total transaction of $208,547.13. Following the completion of the transaction, the chairman now directly owns 2,554,419 shares of the company’s stock, valued at $20,511,984.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman Robert Randolph Morse sold 25,971 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total transaction of $208,547.13. Following the transaction, the chairman now owns 2,554,419 shares in the company, valued at approximately $20,511,984.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Slager sold 6,371 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $8.26, for a total value of $52,624.46. Following the completion of the sale, the chief executive officer now owns 786,373 shares of the company’s stock, valued at $6,495,440.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,366 shares of company stock worth $687,133 over the last 90 days. Company insiders own 65.90% of the company’s stock.

Hedge Funds Weigh In On Bridge Investment Group

A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC grew its position in shares of Bridge Investment Group by 6.8% during the 1st quarter. Jennison Associates LLC now owns 3,261,218 shares of the company’s stock worth $22,339,000 after purchasing an additional 206,840 shares in the last quarter. Lord Abbett & CO. LLC grew its position 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 buying an additional 6,851 shares in the last quarter. Thornburg Investment Management Inc. increased its stake in Bridge Investment Group by 181.2% during the 1st quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock worth $5,358,000 after acquiring an additional 504,812 shares during the period. 1832 Asset Management L.P. lifted its position 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. Finally, Marshall Wace LLP grew its holdings 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 worth $852,000 after purchasing an additional 20,726 shares in the last quarter. 52.83% of the stock is owned by institutional investors.

Bridge Investment Group Company Profile

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