Bridge Investment Group (NYSE:BRDG) Downgraded to “Equal Weight” Rating by Morgan Stanley

Bridge Investment Group (NYSE:BRDG) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Friday, MarketBeat reports. They presently have a $11.00 price target on the stock, down from their previous price target of $14.00. Morgan Stanley’s target price indicates a potential upside of 9.95% from the stock’s current price.

BRDG has been the subject of a number of other research reports. UBS Group raised their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, TD Cowen downgraded shares of Bridge Investment Group from a “buy” rating to a “hold” rating and raised their target price for the company from $10.00 to $10.50 in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.10.

Bridge Investment Group Stock Down 10.8 %

Shares of BRDG stock opened at $10.01 on Friday. The firm has a fifty day moving average of $9.72 and a 200-day moving average of $8.30. 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 12-month low of $6.18 and a 12-month high of $11.69. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -90.95 and a beta of 1.63.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $79.05 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. As a group, equities research analysts predict that Bridge Investment Group will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Bridge Investment Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Albion Financial Group UT bought a new stake in shares of Bridge Investment Group during the 2nd quarter worth about $37,000. Quarry LP boosted its holdings in shares of Bridge Investment Group by 22.5% during the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after buying an additional 1,535 shares during the period. HBK Sorce Advisory LLC boosted its holdings in shares of Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock worth $146,000 after buying an additional 4,035 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Bridge Investment Group by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after buying an additional 1,735 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Bridge Investment Group during the 3rd quarter worth about $448,000. Institutional investors own 52.83% 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.