Bridge Investment Group (NYSE:BRDG) Sees Large Volume Increase – Here’s Why

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw strong trading volume on Monday . 373,307 shares traded hands during trading, an increase of 105% from the previous session’s volume of 182,073 shares.The stock last traded at $8.37 and had previously closed at $8.25.

Analysts Set New Price Targets

Several brokerages recently issued reports on BRDG. Wells Fargo & Company boosted their price target on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $14.00 to $11.00 in a report on Friday, November 8th. UBS Group raised their price target on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen cut their price objective on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a report on Tuesday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Bridge Investment Group has a consensus rating of “Hold” and an average target price of $10.70.

Bridge Investment Group Stock Up 1.2 %

The stock’s 50-day simple moving average is $9.37 and its 200 day simple moving average is $8.88. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The firm has a market cap of $926.29 million, a P/E ratio of 191.30 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $101.51 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.22 earnings per share. As a group, research analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal 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 issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is currently 1,000.00%.

Insider Buying and Selling at Bridge Investment Group

In related news, Vice Chairman Dean Allara sold 10,877 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $90,387.87. Following the completion of the sale, the insider now directly owns 662,473 shares of the company’s stock, valued at approximately $5,505,150.63. This represents a 1.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock in a transaction on Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $392,664.12. Following the transaction, the chairman now directly owns 3,157,271 shares in the company, valued at $26,236,922.01. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,187 shares of company stock valued at $1,204,966. Corporate insiders own 65.90% of the company’s stock.

Institutional Investors Weigh In On Bridge Investment Group

Several large investors have recently made changes to their positions in BRDG. Quarry LP lifted 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 buying an additional 1,535 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Bridge Investment Group in the third quarter valued at approximately $102,000. Paloma Partners Management Co purchased a new stake in shares of Bridge Investment Group during the 3rd quarter valued at approximately $110,000. XTX Topco Ltd bought a new position in Bridge Investment Group in the 3rd quarter worth approximately $127,000. Finally, Quest Partners LLC purchased a new position in Bridge Investment Group in the 3rd quarter valued at approximately $448,000. 52.83% of the stock is owned by hedge funds and other institutional investors.

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.