Dean Allara Sells 10,438 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Vice Chairman Dean Allara sold 10,438 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $86,531.02. Following the completion of the sale, the insider now directly owns 683,606 shares of the company’s stock, valued at $5,667,093.74. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dean Allara also recently made the following trade(s):

• On Monday, January 6th, Dean Allara sold 10,877 shares of Bridge Investment Group stock. The stock was sold at an average price of $8.31, for a total transaction of $90,387.87.

Bridge Investment Group Price Performance

Shares of BRDG traded up $0.02 during trading hours on Monday, reaching $8.27. 519,523 shares of the company’s stock traded hands, compared to its average volume of 313,608. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. The firm’s 50 day simple moving average is $9.49 and its 200-day simple moving average is $8.89. The stock has a market cap of $1.00 billion, a PE ratio of 206.80 and a beta of 1.57. Bridge Investment Group Holdings Inc. has a 12 month low of $6.18 and a 12 month high of $11.69.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. During the same period in the prior year, the firm earned $0.22 EPS. Equities analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 4.84%. Bridge Investment Group’s dividend payout ratio is presently 1,000.00%.

Institutional Investors Weigh In On Bridge Investment Group

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP increased its position in shares of Bridge Investment Group by 22.5% during the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after purchasing an additional 1,535 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Bridge Investment Group by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after buying an additional 1,735 shares in the last quarter. Royce & Associates LP grew its position in Bridge Investment Group by 1.2% during the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock valued at $7,632,000 after acquiring an additional 8,909 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Bridge Investment Group during the third quarter worth approximately $102,000. Finally, Paloma Partners Management Co purchased a new position in shares of Bridge Investment Group during the third quarter worth approximately $110,000. Institutional investors own 52.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $14.00 to $11.00 in a research note on Friday, November 8th. TD Cowen cut their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. UBS Group increased their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.00.

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.