Robert Randolph Morse Sells 47,252 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse sold 47,252 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $392,664.12. Following the transaction, the chairman now directly owns 3,157,271 shares of the company’s stock, valued at approximately $26,236,922.01. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, January 2nd, Robert Randolph Morse sold 45,343 shares of Bridge Investment Group stock. The stock was sold at an average price of $8.29, for a total transaction of $375,893.47.

Bridge Investment Group Stock Down 10.0 %

Bridge Investment Group stock opened at $7.47 on Wednesday. The stock has a 50-day simple moving average of $9.43 and a 200-day simple moving average of $8.89. The company has a market capitalization of $904.50 million, a P/E 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. 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 for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $101.51 million during the quarter, compared to analyst estimates of $85.00 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. During the same period in the previous year, the company posted $0.22 earnings per share. Equities research analysts expect 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 was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.10 dividend. The ex-dividend date of this dividend 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 is presently 1,000.00%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BRDG shares. TD Cowen decreased 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. UBS Group upped their price objective on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday. Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. Finally, Wells Fargo & Company increased their price target on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.70.

Institutional Investors Weigh In On Bridge Investment Group

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. raised its stake in Bridge Investment Group by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock valued at $13,383,000 after acquiring an additional 14,235 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Bridge Investment Group by 11.2% in the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after purchasing an additional 40,975 shares during the period. XTX Topco Ltd purchased a new stake in shares of Bridge Investment Group during the third quarter worth approximately $127,000. Jane Street Group LLC acquired a new stake in shares of Bridge Investment Group during the third quarter worth $102,000. Finally, State Street Corp grew its position in Bridge Investment Group by 12.0% in the 3rd quarter. State Street Corp now owns 128,711 shares of the company’s stock valued at $1,270,000 after buying an additional 13,800 shares during the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

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.