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

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

Bridge Investment Group Price Performance

Bridge Investment Group stock traded up $2.48 on Monday, reaching $10.40. The company’s stock had a trading volume of 744,755 shares, compared to its average volume of 179,034. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. Bridge Investment Group has a twelve month low of $6.18 and a twelve month high of $11.69. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 263.69 and a beta of 1.55. The business’s fifty day moving average price is $8.04 and its 200 day moving average price is $8.92.

Insider Transactions at Bridge Investment Group

In other Bridge Investment Group news, COO Adam O’farrell sold 6,655 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $55,169.95. Following the transaction, the chief operating officer now directly owns 551,512 shares of the company’s stock, valued at approximately $4,572,034.48. This trade represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Dean Allara sold 10,438 shares of Bridge Investment Group stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $86,531.02. Following the sale, the insider now directly owns 683,606 shares of the company’s stock, valued at $5,667,093.74. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,187 shares of company stock worth $1,204,966 in the last quarter. 65.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.