Bridge Investment Group (NYSE:BRDG) Sees Large Volume Increase

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw an uptick in trading volume on Thursday . 357,207 shares traded hands during trading, an increase of 53% from the previous session’s volume of 233,571 shares.The stock last traded at $9.70 and had previously closed at $9.81.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company began coverage on shares of Bridge Investment Group in a report on Thursday, September 12th. They set an “overweight” rating and a $11.00 target price for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Bridge Investment Group Stock Down 0.3 %

The business’s 50 day moving average is $8.33 and its 200 day moving average is $7.62. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -40.63 and a beta of 1.63.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $104.76 million during the quarter, compared to analyst estimates of $79.05 million. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. During the same quarter last year, the business posted $0.20 EPS. Equities analysts expect that Bridge Investment Group Holdings Inc. will post 0.77 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.32%. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.12. Bridge Investment Group’s dividend payout ratio (DPR) is currently -216.67%.

Insider Activity

In related news, Chairman Robert Randolph Morse sold 25,971 shares of Bridge Investment Group stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total value of $208,547.13. Following the transaction, the chairman now owns 2,554,419 shares in the company, valued at approximately $20,511,984.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Robert Randolph Morse sold 25,971 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total transaction of $208,547.13. Following the transaction, the chairman now owns 2,554,419 shares in the company, valued at approximately $20,511,984.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Slager sold 6,409 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total transaction of $51,464.27. Following the transaction, the chief executive officer now owns 773,884 shares in the company, valued at approximately $6,214,288.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,366 shares of company stock worth $687,133. 65.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bridge Investment Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Bridge Investment Group in the fourth quarter worth about $37,000. Albion Financial Group UT bought a new stake in Bridge Investment Group in the second quarter valued at approximately $37,000. HBK Sorce Advisory LLC increased its stake in Bridge Investment Group by 23.4% in the first quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after purchasing an additional 4,035 shares in the last quarter. Bank of New York Mellon Corp increased 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. Finally, Quadrature Capital Ltd acquired a new position in shares of Bridge Investment Group in the fourth quarter valued at approximately $460,000. 52.83% of the stock is currently 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.