Bridge Investment Group (NYSE:BRDG) Shares Gap Up After Earnings Beat

Bridge Investment Group Holdings Inc. (NYSE:BRDG) gapped up prior to trading on Monday following a better than expected earnings announcement. The stock had previously closed at $7.92, but opened at $10.56. Bridge Investment Group shares last traded at $10.63, with a volume of 978,802 shares.

The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The firm had revenue of $81.96 million during the quarter, compared to analyst estimates of $82.02 million.

Bridge Investment Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.11 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 4.27%. Bridge Investment Group’s payout ratio is 1,000.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BRDG. TD Cowen lowered 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their target price on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $14.00 to $11.00 in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.40.

Insider Buying and Selling at Bridge Investment Group

In related news, CFO Katherine Elsnab sold 3,206 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 $26,641.86. Following the completion of the sale, the chief financial officer now directly owns 297,707 shares of the company’s stock, valued at $2,473,945.17. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Dean Allara sold 10,877 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $90,387.87. Following the completion of the transaction, the insider now directly owns 662,473 shares in the company, valued at $5,505,150.63. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,187 shares of company stock worth $1,204,966. Company insiders own 73.00% of the company’s stock.

Hedge Funds Weigh In On Bridge Investment Group

Several institutional investors have recently modified their holdings of BRDG. Jane Street Group LLC bought a new position in Bridge Investment Group during the 3rd quarter worth approximately $102,000. EP Wealth Advisors LLC acquired a new stake in Bridge Investment Group in the fourth quarter worth $89,000. Paloma Partners Management Co bought a new position in shares of Bridge Investment Group during the third quarter worth $110,000. Aquatic Capital Management LLC bought a new position in shares of Bridge Investment Group during the fourth quarter worth $95,000. Finally, XTX Topco Ltd acquired a new position in shares of Bridge Investment Group in the 3rd quarter valued at $127,000. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Bridge Investment Group Stock Performance

The firm has a market cap of $1.25 billion, a P/E ratio of 257.74 and a beta of 1.56. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50-day moving average is $8.10 and its 200 day moving average is $8.96.

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.