Bridge Investment Group's Neutral Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. has reiterated its "neutral" rating for Bridge Investment Group (NYSE: BRDG) in a recent research note published on Tuesday. The analysts set a new price target of $10.00 for the stock, which is a decrease from the previous price target of $12.00. This revised price target suggests a potential upside of approximately 20.92% based on the stock's previous close.

Besides JPMorgan, several other brokerages have also shared their views on Bridge Investment Group's shares. For instance, Wells Fargo & Company recently upgraded the company's price target from $11.00 to $11.50 and assigned an "overweight" rating as of October 9th. TD Cowen lowered their price target on Bridge Investment Group from $10.50 to $10.00 while maintaining a "hold" rating as reported on November 12th. On October 22nd, UBS Group increased its price target for the stock from $7.00 to $11.00, keeping a "neutral" rating. Meanwhile, Morgan Stanley changed their rating from "overweight" to "equal weight" and adjusted their price target down from $14.00 to $11.00 on November 8th. Currently, four research analysts have rated the stock with a hold rating, while one has provided a buy rating. According to MarketBeat, the average rating for the stock is "Hold," with a consensus target price of $10.70.

Bridge Investment Group Stock Performance

On Tuesday, Bridge Investment Group's stock opened at $8.27. The company currently has a market capitalization of $1.00 billion, a price-to-earnings (PE) ratio of 206.80, and a beta value of 1.57. The stock has a debt-to-equity ratio of 0.86, alongside both a quick and current ratio of 1.14. The fifty-day moving average for the stock stands at $9.49, while the 200-day moving average is $8.89. Over the past year, the stock has experienced a low of $6.18 and a high of $11.69.

Bridge Investment Group recently disclosed its quarterly earnings on November 6th, reporting earnings of $0.15 per share. This result was slightly below the consensus estimate of $0.18 by $0.03. The company achieved revenues amounting to $101.51 million for the quarter, surpassing analyst expectations of $85.00 million. The return on equity recorded was 9.91%, and the company had a net margin of 1.92%. Last year, the company reported earnings of $0.22 EPS for the same quarter. Analysts predict that Bridge Investment Group will post earnings of $0.68 EPS for the current year.

Insider Trading Activity

In related news, Vice Chairman Dean Allara sold 10,438 shares of Bridge Investment Group on January 2nd, at an average price of $8.29, resulting in a total transaction value of $86,531.02. Following this sale, Allara now holds 683,606 shares, valued at approximately $5.67 million, representing a decrease of 1.50% in their ownership. The transaction details were disclosed in a legal filing with the Securities and Exchange Commission. Additionally, Chairman Robert Randolph Morse sold 47,252 shares on January 6th, with an average sale price of $8.31, amounting to approximately $392,664.12. After this transaction, Morse's ownership in the company reduced by 1.47%, leaving him with 3,157,271 shares worth about $26.24 million. In total, insiders sold 145,187 shares in the last three months, valued at roughly $1.20 million. Company insiders currently own 65.90% of the stock.

Institutional Investor Activity

Hedge funds have been actively adjusting their stakes in Bridge Investment Group. Jennison Associates LLC raised their holdings by 2.3% in the third quarter, owning 3,370,882 shares valued at $33.27 million. Bank of New York Mellon Corp grew its stake by 3.2% in the second quarter, holding 55,328 shares worth $411,000. XTX Topco Ltd acquired a new position in the company in the third quarter, valued at $127,000. Geode Capital Management LLC increased its position by 11.2% during the same quarter and now owns 407,709 shares worth around $4.03 million. State Street Corp also boosted its holdings by 12.0% during the third quarter, holding 128,711 shares worth approximately $1.27 million. Overall, hedge funds and other institutional investors collectively own 52.83% of Bridge Investment Group's stock.

About Bridge Investment Group

Bridge Investment Group Holdings Inc. operates in the real estate investment management sector in the United States. Founded in 2009 and headquartered in Salt Lake City, Utah, the company manages capital for around one hundred global institutions and 6,500 individual investors across approximately 25 investment vehicles.

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