Bridge Investment Group (NYSE:BRDG) Now Covered by Analysts at Wells Fargo & Company

Stock analysts at Wells Fargo & Company assumed coverage on shares of Bridge Investment Group (NYSE:BRDG) in a research note issued to investors on Thursday, Briefing.com reports. The firm set an “overweight” rating and a $11.00 price target on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 38.54% from the company’s previous close.

Bridge Investment Group Trading Down 0.3 %

BRDG opened at $7.94 on Thursday. Bridge Investment Group has a 12 month low of $6.18 and a 12 month high of $10.27. The stock has a market capitalization of $960.62 million, a price-to-earnings ratio of -33.08 and a beta of 1.63. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.21. The business has a fifty day moving average price of $7.88 and a 200 day moving average price of $7.36.

Bridge Investment Group (NYSE:BRDG) last released 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. The business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $79.05 million. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. During the same period in the prior year, the firm posted $0.20 EPS. Sell-side analysts expect that Bridge Investment Group will post 0.77 earnings per share for the current fiscal year.

Insider Transactions at Bridge Investment Group

In other news, insider Dean Allara sold 5,730 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $8.26, for a total transaction of $47,329.80. Following the completion of the transaction, the insider now directly owns 555,276 shares of the company’s stock, valued at approximately $4,586,579.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Dean Allara sold 5,730 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $8.26, for a total value of $47,329.80. Following the completion of the sale, the insider now directly owns 555,276 shares of the company’s stock, valued at approximately $4,586,579.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Adam O’farrell sold 3,748 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $8.26, for a total value of $30,958.48. Following the completion of the sale, the chief operating officer now directly owns 455,514 shares of the company’s stock, valued at $3,762,545.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,366 shares of company stock valued at $687,133. 65.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Bridge Investment Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in Bridge Investment Group by 22.5% during the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after acquiring an additional 1,535 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 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 valued at $411,000 after acquiring an additional 1,735 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after acquiring an additional 4,035 shares during the last quarter. Albion Financial Group UT acquired a new position in Bridge Investment Group during the 2nd quarter worth approximately $37,000. Finally, Lord Abbett & CO. LLC increased its position in Bridge Investment Group by 0.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock worth $5,898,000 after purchasing an additional 6,851 shares during the period. 52.83% of the stock is owned by hedge funds and other institutional investors.

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.