Robert Randolph Morse Sells 45,343 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse sold 45,343 shares of the firm’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 $375,893.47. Following the completion of the transaction, the chairman now owns 3,249,076 shares in the company, valued at $26,934,840.04. This represents a 1.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Robert Randolph Morse also recently made the following trade(s):

• On Monday, January 6th, Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock. The shares were sold at an average price of $8.31, for a total transaction of $392,664.12.

Bridge Investment Group Stock Down 10.0 %

BRDG stock opened at $7.47 on Wednesday. The company has a market capitalization of $904.50 million, a price-to-earnings ratio of 186.80 and a beta of 1.57. 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 business’s 50 day moving average price is $9.43 and its two-hundred day moving average price is $8.89. Bridge Investment Group Holdings Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $11.69.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $101.51 million during the quarter, compared to the consensus estimate of $85.00 million. During the same quarter last year, the company posted $0.22 EPS. As a group, analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share 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. Investors of record on Friday, December 6th were given a dividend of $0.10 per share. The ex-dividend date was Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 5.35%. Bridge Investment Group’s dividend payout ratio (DPR) is currently 1,000.00%.

Wall Street Analysts Forecast Growth

BRDG has been the topic of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday. Wells Fargo & Company boosted their price target on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a report on Wednesday, October 9th. TD Cowen dropped their price objective on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $14.00 to $11.00 in a research note on Friday, November 8th. Finally, UBS Group raised their price target on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.70.

Institutional Investors Weigh In On Bridge Investment Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BRDG. FMR LLC boosted its position in shares of Bridge Investment Group by 288.0% in the 3rd quarter. FMR LLC now owns 1,509,690 shares of the company’s stock worth $14,901,000 after purchasing an additional 1,120,549 shares in the last quarter. Jennison Associates LLC raised its stake in Bridge Investment Group by 2.3% during the third quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock valued at $33,271,000 after buying an additional 74,779 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Bridge Investment Group in the third quarter worth $638,000. Quest Partners LLC purchased a new stake in shares of Bridge Investment Group in the third quarter worth $448,000. Finally, Geode Capital Management LLC increased its holdings in shares of Bridge Investment Group by 11.2% during the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after acquiring an additional 40,975 shares in the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Bridge Investment Group Company Profile

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.