Bridge Investment Group Holdings Inc. (NYSE:BRDG) Shares Bought by Fmr LLC

Fmr LLC lifted its position in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 288.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,509,690 shares of the company’s stock after acquiring an additional 1,120,549 shares during the period. Fmr LLC’s holdings in Bridge Investment Group were worth $14,901,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP increased its position in Bridge Investment Group by 22.5% in 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 period. Quest Partners LLC bought a new position in Bridge Investment Group during the third quarter valued at about $448,000. Bank of New York Mellon Corp boosted its stake in Bridge Investment Group by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after buying an additional 1,735 shares in the last quarter. Marshall Wace LLP boosted its stake in Bridge Investment Group by 22.0% during 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. Finally, 1832 Asset Management L.P. boosted its position in shares of Bridge Investment Group by 21.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock valued at $1,273,000 after purchasing an additional 30,620 shares during the period. 52.83% of the stock is owned by institutional investors and hedge funds.

Bridge Investment Group Price Performance

Shares of NYSE:BRDG opened at $9.36 on Wednesday. Bridge Investment Group Holdings Inc. has a 1-year low of $6.18 and a 1-year high of $11.69. The firm has a market capitalization of $1.13 billion, a PE ratio of 234.00 and a beta of 1.54. The business’s 50 day moving average is $10.14 and its 200-day moving average is $8.74. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last posted 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). The company had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. During the same quarter last year, the business earned $0.22 EPS. Sell-side analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.40 annualized dividend and a yield of 4.27%. Bridge Investment Group’s payout ratio is 1,000.00%.

Wall Street Analysts Forecast Growth

BRDG has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen cut 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 increased their price objective on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $14.00 to $11.00 in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Bridge Investment Group presently has an average rating of “Hold” and an average price target of $11.00.

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.