Short Interest in Bridge Investment Group Holdings Inc. (NYSE:BRDG) Increases By 25.2%

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 15th, there was short interest totalling 351,900 shares, an increase of 25.2% from the November 30th total of 281,000 shares. Based on an average daily volume of 233,700 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.0% of the shares of the company are sold short.

Bridge Investment Group Price Performance

BRDG stock opened at $8.37 on Tuesday. The firm has a 50 day simple moving average of $9.77 and a two-hundred day simple moving average of $8.84. The stock has a market cap of $1.01 billion, a PE ratio of 209.30 and a beta of 1.54. Bridge Investment Group has a one year low of $6.18 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 announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (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 company had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. During the same quarter last year, the firm posted $0.22 earnings per share. On average, analysts predict that Bridge Investment Group will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Friday, December 6th. Bridge Investment Group’s dividend payout ratio (DPR) is presently 1,000.00%.

Institutional Investors Weigh In On Bridge Investment Group

Institutional investors have recently made changes to their positions in the business. Quarry LP lifted its stake 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 purchasing an additional 1,535 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Bridge Investment Group in the third quarter worth about $102,000. Paloma Partners Management Co bought a new stake in shares of Bridge Investment Group in the 3rd quarter valued at about $110,000. XTX Topco Ltd purchased a new stake in Bridge Investment Group during the 3rd quarter valued at about $127,000. Finally, Bank of New York Mellon Corp grew its position in Bridge Investment Group by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after acquiring an additional 1,735 shares during the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $14.00 to $11.00 in a report on Friday, November 8th. UBS Group upped their price target on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen cut their price objective on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.