Insider Selling: Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Sells $375,893.47 in Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse sold 45,343 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 $375,893.47. Following the completion of the transaction, the chairman now directly owns 3,249,076 shares of the company’s stock, valued at approximately $26,934,840.04. This trade represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, January 6th, Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock. The shares were sold at an average price of $8.31, for a total transaction of $392,664.12.

Bridge Investment Group Trading Up 1.2 %

NYSE:BRDG opened at $7.65 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50-day simple moving average is $9.37 and its 200-day simple moving average is $8.88. Bridge Investment Group Holdings Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $11.69. The stock has a market capitalization of $926.29 million, a PE ratio of 191.30 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last announced 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). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The company had revenue of $101.51 million during the quarter, compared to the consensus estimate of $85.00 million. During the same period in the previous year, the firm posted $0.22 EPS. Sell-side analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share 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. Shareholders of record on Friday, December 6th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s dividend payout ratio (DPR) is presently 1,000.00%.

Analysts Set New Price Targets

Several research analysts recently issued reports on BRDG shares. 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 research report on Tuesday, October 22nd. Wells Fargo & Company raised their target price 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. TD Cowen reduced their price target on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research report 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. Finally, Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $14.00 to $11.00 in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC raised its position in Bridge Investment Group by 2.3% in the 3rd quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock valued at $33,271,000 after buying an additional 74,779 shares during the last quarter. FMR LLC grew its stake 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 worth $14,901,000 after acquiring an additional 1,120,549 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Bridge Investment Group by 1.1% in the third quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock valued at $13,383,000 after purchasing an additional 14,235 shares during the last quarter. Royce & Associates LP lifted its position in shares of Bridge Investment Group by 1.2% in the third 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 in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Bridge Investment Group by 11.2% during the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after purchasing an additional 40,975 shares during the last quarter. 52.83% of the stock is owned by institutional investors and hedge funds.

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.