Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Update

Bridge Investment Group Holdings Inc. (NYSE:BRDG) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 428,600 shares, an increase of 21.8% from the December 15th total of 351,900 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average trading volume of 240,700 shares, the short-interest ratio is presently 1.8 days.

Insider Buying and Selling

In other news, Vice Chairman Dean Allara sold 10,877 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $90,387.87. Following the transaction, the insider now directly owns 662,473 shares in the company, valued at $5,505,150.63. This trade represents a 1.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Katherine Elsnab sold 3,078 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $25,516.62. Following the completion of the sale, the chief financial officer now owns 303,937 shares of the company’s stock, valued at $2,519,637.73. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,187 shares of company stock worth $1,204,966 over the last three months. 73.00% of the stock is currently owned by company insiders.

Institutional Trading of Bridge Investment Group

Several institutional investors and hedge funds have recently bought and sold shares of BRDG. Bank of New York Mellon Corp grew its stake in 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. 1832 Asset Management L.P. grew its stake in shares of Bridge Investment Group by 21.7% in the second quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock valued at $1,273,000 after buying an additional 30,620 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Bridge Investment Group by 22.0% in the second quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock valued at $852,000 after buying an additional 20,726 shares in the last quarter. Quarry LP increased its holdings in Bridge Investment Group by 22.5% during the second quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after buying an additional 1,535 shares during the last quarter. Finally, Royce & Associates LP raised its position in Bridge Investment Group by 1.2% during the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after acquiring an additional 8,909 shares in the last quarter. Institutional investors own 52.83% of the company’s stock.

Bridge Investment Group Stock Performance

BRDG opened at $7.89 on Friday. The business’s 50-day moving average price is $8.93 and its two-hundred day moving average price is $8.89. Bridge Investment Group has a 1 year low of $6.18 and a 1 year high of $11.69. The company has a market capitalization of $955.08 million, a price-to-earnings ratio of 197.25 and a beta of 1.57. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14.

Bridge Investment Group (NYSE:BRDG) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $85.00 million. During the same quarter in the previous year, the company posted $0.22 EPS. Equities analysts expect that Bridge Investment Group will post 0.68 EPS for the current fiscal 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 given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is currently 1,000.25%.

Analysts Set New Price Targets

BRDG has been the subject of a number of recent analyst reports. TD Cowen lowered their price target 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. UBS Group upped their price objective on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Wells Fargo & Company lowered their price target on Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.40.

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.