Bridge Investment Group (NYSE:BRDG) Posts 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, beating the consensus estimate of $0.16 by $0.02, Zacks reports. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%.

Bridge Investment Group Stock Up 33.8 %

BRDG stock opened at $10.60 on Tuesday. Bridge Investment Group has a 12-month low of $6.18 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 company has a market cap of $1.28 billion, a price-to-earnings ratio of 264.94 and a beta of 1.55. The company has a 50 day moving average of $8.07 and a two-hundred day moving average of $8.94.

Wall Street Analyst Weigh In

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

Insider Transactions at Bridge Investment Group

In other news, CFO Katherine Elsnab sold 3,078 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $25,516.62. Following the transaction, the chief financial officer now owns 303,937 shares in the company, valued at $2,519,637.73. This represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Dean Allara sold 10,438 shares of the 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 transaction, the insider now owns 683,606 shares in the company, valued at approximately $5,667,093.74. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 145,187 shares of company stock worth $1,204,966 in the last 90 days. 65.90% of the stock is owned by insiders.

Bridge Investment Group Company Profile

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.