Quarry LP Has $62,000 Stock Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Quarry LP lifted its holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 22.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,350 shares of the company’s stock after purchasing an additional 1,535 shares during the period. Quarry LP’s holdings in Bridge Investment Group were worth $62,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in shares of Bridge Investment Group during the 4th quarter worth about $460,000. Jennison Associates LLC grew its holdings in Bridge Investment Group by 6.8% during the first quarter. Jennison Associates LLC now owns 3,261,218 shares of the company’s stock valued at $22,339,000 after purchasing an additional 206,840 shares during the last quarter. HBK Sorce Advisory LLC raised its position in shares of Bridge Investment Group by 23.4% in the first quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after purchasing an additional 4,035 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Bridge Investment Group by 0.8% in the first quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock worth $5,898,000 after buying an additional 6,851 shares during the last quarter. Finally, Thornburg Investment Management Inc. boosted 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 worth $5,358,000 after buying an additional 504,812 shares during the period. 52.83% of the stock is currently owned by institutional investors.

Bridge Investment Group Trading Up 0.5 %

Shares of Bridge Investment Group stock opened at $9.86 on Friday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -41.08 and a beta of 1.65. Bridge Investment Group Holdings Inc. has a 1 year low of $6.18 and a 1 year high of $10.15. The company’s fifty day simple moving average is $8.33 and its 200-day simple moving average is $7.62. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85.

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, topping 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 company had revenue of $104.76 million for the quarter, compared to the consensus estimate of $79.05 million. During the same quarter in the previous year, the firm posted $0.20 EPS. As a group, sell-side analysts expect that Bridge Investment Group Holdings Inc. will post 0.77 EPS for the current year.

Bridge Investment Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.12. Bridge Investment Group’s dividend payout ratio (DPR) is presently -216.67%.

Insider Activity

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 25,971 shares of Bridge Investment Group stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total transaction of $208,547.13. Following the sale, the chairman now owns 2,554,419 shares in the company, valued at $20,511,984.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jonathan Slager sold 6,409 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total value of $51,464.27. Following the sale, the chief executive officer now owns 773,884 shares of the company’s stock, valued at approximately $6,214,288.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Robert Randolph Morse sold 25,971 shares of the stock in a transaction 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 transaction, the chairman now owns 2,554,419 shares of the company’s stock, valued at $20,511,984.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,366 shares of company stock worth $687,133. Company insiders own 65.90% of the company’s stock.

Wall Street Analyst Weigh In

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

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.