Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse Sells 47,252 Shares

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse sold 47,252 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $392,664.12. Following the sale, the chairman now owns 3,157,271 shares in the company, valued at approximately $26,236,922.01. This represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Robert Randolph Morse also recently made the following trade(s):

• On Thursday, January 2nd, Robert Randolph Morse sold 45,343 shares of Bridge Investment Group stock. The stock was sold at an average price of $8.29, for a total transaction of $375,893.47.

Bridge Investment Group Price Performance

Bridge Investment Group stock traded up $0.02 during trading hours on Monday, hitting $8.27. 519,523 shares of the stock were exchanged, compared to its average volume of 313,608. Bridge Investment Group Holdings Inc. has a 12 month low of $6.18 and a 12 month high of $11.69. The business’s 50-day moving average is $9.49 and its two-hundred day moving average is $8.89. 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 has a market capitalization of $1.00 billion, a P/E ratio of 206.80 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share 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 analyst estimates of $85.00 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. During the same period in the prior year, the business earned $0.22 earnings per share. Equities research analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group raised their price objective 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. Wells Fargo & Company lifted their price objective on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a report on Wednesday, October 9th. TD Cowen dropped their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Finally, Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $14.00 to $11.00 in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Bridge Investment Group has a consensus rating of “Hold” and a consensus price target of $11.00.

Institutional Investors Weigh In On Bridge Investment Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in shares of Bridge Investment Group by 22.5% in the second quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after acquiring an additional 1,535 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $411,000 after purchasing an additional 1,735 shares in the last quarter. Royce & Associates LP raised its position in Bridge Investment Group by 1.2% in the 3rd quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after purchasing an additional 8,909 shares during the last quarter. Jane Street Group LLC acquired a new position in Bridge Investment Group during the 3rd quarter worth $102,000. Finally, Paloma Partners Management Co bought a new position in Bridge Investment Group in the 3rd quarter valued at $110,000. Institutional investors own 52.83% 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.