Bridge Investment Group (NYSE:BRDG) Shares Gap Down – Time to Sell?

Bridge Investment Group Holdings Inc. (NYSE:BRDG)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $11.22, but opened at $10.35. Bridge Investment Group shares last traded at $10.14, with a volume of 120,911 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. UBS Group upped their price target on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen downgraded shares of Bridge Investment Group from a “buy” rating to a “hold” rating and raised their price objective for the stock from $10.00 to $10.50 in a research note on Monday, October 14th. Finally, Morgan Stanley upped their target price on shares of Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Bridge Investment Group currently has an average rating of “Moderate Buy” and an average target price of $11.70.

Bridge Investment Group Price Performance

The company has a market cap of $1.19 billion, a price-to-earnings ratio of -92.45 and a beta of 1.63. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85. The company has a fifty day moving average price of $9.68 and a two-hundred day moving average price of $8.29.

Bridge Investment Group (NYSE:BRDG) last issued its earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm 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 last year, the business earned $0.20 earnings per share. As a group, equities research analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC boosted its stake in Bridge Investment Group by 23.4% in the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after buying an additional 4,035 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Bridge Investment Group by 0.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock valued at $5,898,000 after purchasing an additional 6,851 shares in the last quarter. Thornburg Investment Management Inc. grew its holdings in shares of Bridge Investment Group by 181.2% in the 1st quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock worth $5,358,000 after purchasing an additional 504,812 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Bridge Investment Group during the 1st quarter worth about $966,000. Finally, Albion Financial Group UT bought a new position in Bridge Investment Group during the 2nd quarter valued at about $37,000. Institutional investors and hedge funds 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.