Insider Selling: Bridge Investment Group Holdings Inc. (NYSE:BRDG) Vice Chairman Sells $90,387.87 in Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Vice Chairman Dean Allara sold 10,877 shares of the firm’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 transaction of $90,387.87. Following the completion of the sale, the insider now directly owns 662,473 shares in the company, valued at approximately $5,505,150.63. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dean Allara also recently made the following trade(s):

• On Thursday, January 2nd, Dean Allara sold 10,438 shares of Bridge Investment Group stock. The shares were sold at an average price of $8.29, for a total transaction of $86,531.02.

Bridge Investment Group Stock Up 1.2 %

BRDG stock opened at $7.65 on Thursday. The stock has a market capitalization of $926.29 million, a PE ratio of 191.30 and a beta of 1.57. The company has a fifty day moving average of $9.37 and a 200-day moving average of $8.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. Bridge Investment Group Holdings Inc. has a one year low of $6.18 and a one year high of $11.69.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS 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 firm had revenue of $101.51 million during the quarter, compared to analyst estimates of $85.00 million. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors 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 is presently 1,000.00%.

Institutional Investors Weigh In On Bridge Investment Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in shares of Bridge Investment Group by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock worth $13,383,000 after purchasing an additional 14,235 shares during the period. 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 buying an additional 40,975 shares in the last quarter. XTX Topco Ltd purchased a new stake in Bridge Investment Group during the third quarter worth about $127,000. Jane Street Group LLC acquired a new position in Bridge Investment Group during the third quarter worth about $102,000. Finally, State Street Corp increased its holdings in Bridge Investment Group by 12.0% in the third quarter. State Street Corp now owns 128,711 shares of the company’s stock valued at $1,270,000 after buying an additional 13,800 shares in the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group boosted their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $14.00 to $11.00 in a report on Friday, November 8th. Wells Fargo & Company raised 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Bridge Investment Group in a report on Tuesday. Finally, TD Cowen cut their price objective on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Bridge Investment Group has an average rating of “Hold” and an average target price of $10.70.

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.