Bridge Investment Group (NYSE:BRDG) Sees Unusually-High Trading Volume – Here’s Why

Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw unusually-strong trading volume on Monday . Approximately 373,307 shares changed 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. TD Cowen reduced their target price on shares of 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. Wells Fargo & Company increased their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Finally, UBS Group boosted their price objective on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research 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 currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Bridge Investment Group Price Performance

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 PE ratio of 206.80 and a beta of 1.57. The business’s 50-day moving average price is $9.54 and its 200 day moving average price is $8.88.

Bridge Investment Group (NYSE:BRDG) last announced its 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). Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The business had revenue of $101.51 million during the quarter, compared to the consensus estimate of $85.00 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. Research analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The business 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. This represents a $0.40 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is currently 1,000.00%.

Hedge Funds Weigh In On Bridge Investment Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BRDG. FMR LLC raised its position in shares of Bridge Investment Group by 288.0% during the 3rd quarter. FMR LLC now owns 1,509,690 shares of the company’s stock valued at $14,901,000 after buying an additional 1,120,549 shares in the last quarter. Jennison Associates LLC raised its position in Bridge Investment Group by 2.3% during the third quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock valued at $33,271,000 after purchasing an additional 74,779 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Bridge Investment Group in the 3rd quarter worth about $638,000. Quest Partners LLC purchased a new position in shares of Bridge Investment Group in the 3rd quarter worth about $448,000. Finally, Geode Capital Management LLC increased its position in shares of Bridge Investment Group by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after purchasing an additional 40,975 shares during the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

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.