1832 Asset Management L.P. Boosts Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

1832 Asset Management L.P. grew its holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 21.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,620 shares of the company’s stock after acquiring an additional 30,620 shares during the period. 1832 Asset Management L.P. owned about 0.14% of Bridge Investment Group worth $1,273,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted 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 worth $411,000 after buying an additional 1,735 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of Bridge Investment Group during the 2nd quarter worth approximately $37,000. Thornburg Investment Management Inc. increased its holdings in shares of Bridge Investment Group by 181.2% during the 1st quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock valued at $5,358,000 after purchasing an additional 504,812 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Bridge Investment Group by 0.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock valued at $5,898,000 after purchasing an additional 6,851 shares during the period. Finally, HBK Sorce Advisory LLC boosted its holdings in Bridge Investment Group by 23.4% during the first quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock worth $146,000 after buying an additional 4,035 shares in the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bridge Investment Group Trading Up 3.9 %

Shares of NYSE:BRDG opened at $10.02 on Friday. The business’s 50 day moving average price is $8.19 and its 200-day moving average price is $7.52. Bridge Investment Group Holdings Inc. has a 1 year low of $6.18 and a 1 year high of $10.15. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -41.75 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.

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. The business 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 earnings per share. On average, equities research analysts forecast that Bridge Investment Group Holdings Inc. will post 0.77 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The company also recently disclosed 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 positive change from Bridge Investment Group’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend was Friday, August 30th. Bridge Investment Group’s payout ratio is -216.66%.

Insider Buying and Selling at Bridge Investment Group

In other news, Chairman Robert Randolph Morse sold 25,971 shares of Bridge Investment Group stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total value of $208,547.13. Following the sale, the chairman now directly owns 2,554,419 shares of the company’s stock, valued at $20,511,984.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Robert Randolph Morse sold 25,971 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total value of $208,547.13. Following the transaction, the chairman now directly owns 2,554,419 shares of the company’s stock, valued at $20,511,984.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Adam O’farrell sold 3,770 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total transaction of $30,273.10. Following the transaction, the chief operating officer now owns 448,167 shares in the company, valued at $3,598,781.01. The disclosure for this sale can be found here. Insiders sold 84,366 shares of company stock valued at $687,133 over the last quarter. 65.90% of the stock is currently owned by insiders.

Bridge Investment Group 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.