Short Interest in Bridge Investment Group Holdings Inc. (NYSE:BRDG) Declines By 17.6%

Bridge Investment Group Holdings Inc. (NYSE:BRDG) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 318,200 shares, a decrease of 17.6% from the February 28th total of 386,200 shares. Based on an average daily volume of 350,400 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.9% of the company’s shares are sold short.

Insider Activity

In related news, CEO Jonathan Slager sold 11,403 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $94,530.87. Following the completion of the transaction, the chief executive officer now owns 962,481 shares in the company, valued at $7,978,967.49. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock in a transaction on Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $392,664.12. Following the completion of the sale, the chairman now owns 3,157,271 shares in the company, valued at approximately $26,236,922.01. This trade represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,187 shares of company stock valued at $1,204,966. 65.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bridge Investment Group

A number of hedge funds have recently added to or reduced their stakes in BRDG. Franklin Resources Inc. raised its stake in shares of Bridge Investment Group by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 1,295,065 shares of the company’s stock worth $10,879,000 after purchasing an additional 8,218 shares during the last quarter. Jane Street Group LLC purchased a new position in Bridge Investment Group in the 3rd quarter worth about $102,000. EP Wealth Advisors LLC bought a new position in Bridge Investment Group during the 4th quarter valued at about $89,000. Paloma Partners Management Co bought a new stake in shares of Bridge Investment Group in the third quarter worth approximately $110,000. Finally, Aquatic Capital Management LLC purchased a new position in shares of Bridge Investment Group during the fourth quarter valued at approximately $95,000. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group increased their price target on shares of Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their target price on Bridge Investment Group from $11.50 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, March 20th. Finally, 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 research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, According to MarketBeat, Bridge Investment Group has an average rating of “Hold” and an average target price of $10.80.

Bridge Investment Group Stock Up 2.7 %

BRDG stock traded up $0.26 on Wednesday, reaching $9.92. 324,771 shares of the company traded hands, compared to its average volume of 250,102. The firm has a fifty day simple moving average of $8.98 and a 200-day simple moving average of $9.28. The company has a market cap of $1.23 billion, a P/E ratio of 248.06 and a beta of 1.47. Bridge Investment Group has a one year low of $6.31 and a one year high of $11.69. 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 posted its quarterly earnings results on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The firm had revenue of $81.96 million during the quarter, compared to analyst estimates of $82.02 million. Research analysts anticipate that Bridge Investment Group will post 0.68 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.11 per share. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.44%. Bridge Investment Group’s dividend payout ratio is presently 488.89%.

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.