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 Friday . 532,116 shares traded hands during mid-day trading, an increase of 127% from the previous session’s volume of 234,514 shares.The stock last traded at $9.23 and had previously closed at $9.17.

Wall Street Analysts Forecast Growth

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

Bridge Investment Group Stock Up 0.5 %

The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -38.29 and a beta of 1.63. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.21. The firm’s fifty day moving average is $8.04 and its two-hundred day moving average is $7.42.

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

Bridge Investment Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.13 dividend. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend was Friday, August 30th. Bridge Investment Group’s payout ratio is presently -216.67%.

Insider Buying and Selling

In other news, Chairman Robert Randolph Morse sold 25,823 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $8.26, for a total transaction of $213,297.98. Following the completion of the sale, the chairman now directly owns 2,605,033 shares of the company’s stock, valued at approximately $21,517,572.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Robert Randolph Morse sold 25,823 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $8.26, for a total transaction of $213,297.98. Following the completion of the sale, the chairman now directly owns 2,605,033 shares in the company, valued at $21,517,572.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dean Allara sold 5,730 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $8.26, for a total value of $47,329.80. Following the completion of the sale, the insider now directly owns 555,276 shares of the company’s stock, valued at approximately $4,586,579.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,366 shares of company stock worth $687,133. Corporate insiders own 65.90% of the company’s stock.

Institutional Trading of Bridge Investment Group

Several large investors have recently made changes to their positions in the stock. Quarry LP lifted its position in Bridge Investment Group by 22.5% during the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after acquiring an additional 1,535 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Bridge Investment Group by 22.0% in the 2nd quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock worth $852,000 after acquiring an additional 20,726 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Bridge Investment Group by 21.7% in the second quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock worth $1,273,000 after purchasing an additional 30,620 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 buying an additional 1,735 shares in the last quarter. Finally, Albion Financial Group UT acquired a new position in shares of Bridge Investment Group during the second quarter worth approximately $37,000. Institutional investors 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.