Bridge Investment Group (NYSE:BRDG) Price Target Lowered to $13.00 at Morgan Stanley

Bridge Investment Group (NYSE:BRDG) had its target price decreased by equities research analysts at Morgan Stanley from $14.00 to $13.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 70.38% from the company’s current price.

Separately, JPMorgan Chase & Co. decreased their target price on shares of Bridge Investment Group from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Wednesday, August 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Bridge Investment Group Stock Performance

Shares of BRDG stock opened at $7.63 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.78. The company has a market cap of $261.12 million, a PE ratio of -26.31 and a beta of 1.79. The company’s fifty day simple moving average is $8.45 and its 200-day simple moving average is $9.98. Bridge Investment Group has a 52 week low of $6.99 and a 52 week high of $15.61.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors increased its position in shares of Bridge Investment Group by 89.7% in the first quarter. Captrust Financial Advisors now owns 1,231 shares of the company’s stock worth $25,000 after acquiring an additional 582 shares in the last quarter. State of Wyoming acquired a new stake in Bridge Investment Group during the 2nd quarter valued at $28,000. Royal Bank of Canada lifted its holdings in shares of Bridge Investment Group by 126.3% in the third quarter. Royal Bank of Canada now owns 3,591 shares of the company’s stock valued at $52,000 after purchasing an additional 2,004 shares in the last quarter. Pathstone Family Office LLC grew its holdings in shares of Bridge Investment Group by 20.8% during the fourth quarter. Pathstone Family Office LLC now owns 12,132 shares of the company’s stock valued at $59,000 after buying an additional 2,088 shares in the last quarter. Finally, UBS Group AG lifted its stake in Bridge Investment Group by 44.6% in the 3rd quarter. UBS Group AG now owns 8,364 shares of the company’s stock worth $77,000 after acquiring an additional 2,579 shares in the last quarter. Institutional investors and hedge funds own 58.41% 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.