Bank of New York Mellon Corp Increases Stock Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Bank of New York Mellon Corp raised its holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,328 shares of the company’s stock after purchasing an additional 1,735 shares during the period. Bank of New York Mellon Corp’s holdings in Bridge Investment Group were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Thornburg Investment Management Inc. lifted its stake in shares of Bridge Investment Group by 181.2% during the first quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock valued at $5,358,000 after buying an additional 504,812 shares during the period. Trexquant Investment LP purchased a new position in shares of Bridge Investment Group during the fourth quarter valued at approximately $1,199,000. 1832 Asset Management L.P. purchased a new position in shares of Bridge Investment Group during the first quarter valued at approximately $966,000. Quarry LP purchased a new position in shares of Bridge Investment Group during the fourth quarter valued at approximately $37,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Bridge Investment Group during the fourth quarter valued at approximately $460,000. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Insider Buying and Selling at Bridge Investment Group

In related news, Chairman Robert Randolph Morse sold 25,823 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were 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 $21,517,572.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Jonathan Slager sold 6,409 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total transaction of $51,464.27. Following the sale, the chief executive officer now owns 773,884 shares in the company, valued at $6,214,288.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert Randolph Morse sold 25,823 shares of the company’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 transaction of $213,297.98. Following the completion of the transaction, the chairman now owns 2,605,033 shares in the company, valued at approximately $21,517,572.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,366 shares of company stock valued at $687,133. Company insiders own 65.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Bridge Investment Group Trading Up 2.6 %

Bridge Investment Group stock opened at $9.59 on Wednesday. The firm’s 50-day moving average is $8.14 and its 200-day moving average is $7.49. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.21. Bridge Investment Group Holdings Inc. has a 1 year low of $6.18 and a 1 year high of $10.15. The company has a market cap of $1.16 billion, a P/E ratio of -39.96 and a beta of 1.63.

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

Bridge Investment Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.13 per share. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.52 annualized dividend and a yield of 5.42%. Bridge Investment Group’s dividend payout ratio (DPR) is presently -216.67%.

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.