Bridge Investment Group (NYSE:BRDG) Sees Strong Trading Volume – Still a Buy?

Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw unusually-high trading volume on Wednesday . Approximately 540,655 shares traded hands during mid-day trading, an increase of 126% from the previous session’s volume of 239,347 shares.The stock last traded at $9.70 and had previously closed at $9.71.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BRDG shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. UBS Group upped their price objective on Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Wells Fargo & Company downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $10.00 to $11.50 in a research report on Thursday, February 27th. Finally, TD Cowen decreased their target price 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. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.90.

Bridge Investment Group Trading Up 0.4 %

The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 243.69 and a beta of 1.55. 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 company has a 50 day moving average of $8.27 and a 200-day moving average of $9.05.

Bridge Investment Group (NYSE:BRDG) last announced its earnings results on Monday, February 24th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The firm had revenue of $81.96 million for the quarter, compared to the consensus estimate of $82.02 million. On average, research analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.11 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 4.52%. Bridge Investment Group’s payout ratio is 488.89%.

Insider Activity at Bridge Investment Group

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 45,343 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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 filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Dean Allara sold 10,438 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $86,531.02. Following the completion of the sale, the insider now directly owns 683,606 shares in the company, valued at approximately $5,667,093.74. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 145,187 shares of company stock valued at $1,204,966 in the last three months. 65.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bridge Investment Group

Hedge funds have recently bought and sold shares of the stock. EP Wealth Advisors LLC acquired a new position in shares of Bridge Investment Group in the fourth quarter valued at approximately $89,000. Aquatic Capital Management LLC purchased a new position in shares of Bridge Investment Group during the 4th quarter worth $95,000. Jane Street Group LLC acquired a new stake in shares of Bridge Investment Group during the third quarter worth $102,000. Paloma Partners Management Co acquired a new stake in shares of Bridge Investment Group during the third quarter worth $110,000. Finally, XTX Topco Ltd acquired a new position in Bridge Investment Group in the third quarter valued at $127,000. Hedge funds and other 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.