Janney Montgomery Scott LLC Purchases New Stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Janney Montgomery Scott LLC purchased a new position in Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 41,795 shares of the company's stock, valued at approximately $400,000.

A number of other large investors have also recently made changes to their positions in BRDG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Bridge Investment Group in the first quarter worth about $63,000. Franklin Resources Inc. lifted its holdings in shares of Bridge Investment Group by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 1,295,065 shares of the company's stock valued at $10,879,000 after purchasing an additional 8,218 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Bridge Investment Group during the fourth quarter valued at approximately $89,000. Aquatic Capital Management LLC purchased a new position in shares of Bridge Investment Group during the fourth quarter valued at approximately $95,000. Finally, Northern Trust Corp lifted its holdings in shares of Bridge Investment Group by 19.2% during the fourth quarter. Northern Trust Corp now owns 89,937 shares of the company's stock valued at $755,000 after purchasing an additional 14,481 shares during the last quarter. 52.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company boosted their price objective on shares of Bridge Investment Group from $10.00 to $10.50 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Bridge Investment Group has a consensus rating of "Hold" and a consensus target price of $10.70.

Bridge Investment Group Stock Up 1.2%

Shares of NYSE BRDG traded up $0.12 during midday trading on Friday, reaching $10.21. 148,849 shares of the company's stock traded hands, compared to its average volume of 283,766. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -19.63 and a beta of 1.41. Bridge Investment Group Holdings Inc. has a one year low of $7.09 and a one year high of $11.69. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.98. The stock's 50 day simple moving average is $9.59 and its 200-day simple moving average is $8.99.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.08). Bridge Investment Group had a positive return on equity of 10.07% and a negative net margin of 3.45%. The company had revenue of $71.80 million for the quarter, compared to analyst estimates of $77.60 million. On average, analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal year.

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.