Bridge Investment Group (NYSE:BRDG) Hits New 52-Week High on Analyst Upgrade

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shares hit a new 52-week high during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $11.00 to $14.00. Morgan Stanley currently has an overweight rating on the stock. Bridge Investment Group traded as high as $10.15 and last traded at $10.14, with a volume of 378355 shares changing hands. The stock had previously closed at $9.75.

Separately, Wells Fargo & Company boosted their price target on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.90.

Insider Activity

In other Bridge Investment Group news, CEO Jonathan Slager sold 6,371 shares of Bridge Investment Group 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 $52,624.46. Following the transaction, the chief executive officer now directly owns 786,373 shares of the company’s stock, valued at approximately $6,495,440.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Bridge Investment Group news, CEO Jonathan Slager sold 6,371 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $8.26, for a total transaction of $52,624.46. Following the completion of the sale, the chief executive officer now directly owns 786,373 shares in the company, valued at $6,495,440.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Robert Randolph Morse sold 25,823 shares of Bridge Investment Group stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $8.26, for a total value 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,366 shares of company stock worth $687,133. 65.90% of the stock is currently owned by insiders.

Institutional Trading of Bridge Investment Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new position in shares of Bridge Investment Group in the fourth quarter worth $37,000. Albion Financial Group UT purchased a new position in shares of Bridge Investment Group in the second quarter valued at about $37,000. HBK Sorce Advisory LLC raised its stake in shares of Bridge Investment Group by 23.4% during the first quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after acquiring an additional 4,035 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Bridge Investment Group during the fourth quarter worth about $460,000. Finally, Bank of New York Mellon Corp grew 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 purchasing an additional 1,735 shares during the last quarter. Institutional investors own 52.83% of the company’s stock.

Bridge Investment Group Stock Performance

The business has a fifty day moving average of $8.56 and a 200-day moving average of $7.75. The company has a market cap of $1.24 billion, a PE ratio of -42.88 and a beta of 1.65. 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 earnings results 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 return on equity of 16.35% and a net margin of 0.82%. The firm had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $79.05 million. During the same period in the previous year, the firm earned $0.20 earnings per share. Equities research analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.77 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.13 dividend. The ex-dividend date was Friday, August 30th. 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 5.05%. Bridge Investment Group’s dividend payout ratio is -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.