Bridge Investment Group (NYSE:BRDG) Price Target Lowered to $25.00 at Morgan Stanley

Bridge Investment Group (NYSE:BRDGGet Rating) had its target price dropped by research analysts at Morgan Stanley from $26.00 to $25.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 26.90% from the company’s current price.

BRDG has been the subject of several other research reports. Citigroup reduced their price target on shares of Bridge Investment Group from $25.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, April 12th. Wells Fargo & Company reduced their price target on shares of Bridge Investment Group from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Zacks Investment Research lowered shares of Bridge Investment Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $22.00.

Shares of Bridge Investment Group stock traded up $0.11 on Wednesday, hitting $19.70. The company had a trading volume of 287 shares, compared to its average volume of 153,460. Bridge Investment Group has a twelve month low of $14.05 and a twelve month high of $25.61. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $19.81.

Bridge Investment Group (NYSE:BRDGGet Rating) last released its quarterly earnings results on Wednesday, March 2nd. The company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The company had revenue of $107.32 million during the quarter, compared to analyst estimates of $72.80 million. Bridge Investment Group had a net margin of 41.64% and a return on equity of 17.23%. Equities analysts anticipate that Bridge Investment Group will post 1.03 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in BRDG. Jennison Associates LLC bought a new stake in shares of Bridge Investment Group in the third quarter worth $32,457,000. Franklin Resources Inc. bought a new stake in Bridge Investment Group during the third quarter worth $29,577,000. Conversant Capital LLC bought a new stake in Bridge Investment Group during the fourth quarter worth $30,463,000. Morgan Stanley bought a new stake in Bridge Investment Group during the third quarter worth $14,000,000. Finally, Millennium Management LLC bought a new stake in Bridge Investment Group during the third quarter worth $9,628,000. 65.28% of the stock is currently owned by institutional investors and hedge funds.

Bridge Investment Group Company Profile (Get Rating)

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.

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Analyst Recommendations for Bridge Investment Group (NYSE:BRDG)

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