Bridge Investment Group (NYSE:BRDG) Shares Gap Down on Insider Selling

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shares gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $8.30, but opened at $8.10. Bridge Investment Group shares last traded at $7.81, with a volume of 104,582 shares traded.

Specifically, CEO Jonathan Slager sold 11,403 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $94,530.87. Following the sale, the chief executive officer now owns 962,481 shares of the company’s stock, valued at $7,978,967.49. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Adam O’farrell sold 6,935 shares of Bridge Investment Group stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $57,629.85. Following the completion of the transaction, the chief operating officer now owns 538,038 shares of the company’s stock, valued at $4,471,095.78. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Bridge Investment Group news, COO Adam O’farrell sold 6,655 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $55,169.95. Following the sale, the chief operating officer now owns 551,512 shares in the company, valued at $4,572,034.48. This represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Ratings Changes

BRDG has been the subject of several recent research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday. Wells Fargo & Company upped their price target on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. UBS Group raised their price objective on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Finally, TD Cowen lowered their target price on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Bridge Investment Group currently has an average rating of “Hold” and an average target price of $10.70.

Bridge Investment Group Stock Up 1.2 %

The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. The company has a fifty day moving average price of $9.37 and a 200 day moving average price of $8.88. The company has a market cap of $926.29 million, a PE ratio of 191.30 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. During the same period in the prior year, the firm earned $0.22 EPS. As a group, analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 5.23%. Bridge Investment Group’s payout ratio is 1,000.00%.

Hedge Funds Weigh In On Bridge Investment Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP lifted its position in Bridge Investment Group by 22.5% in the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after buying an additional 1,535 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Bridge Investment Group in the 3rd quarter worth approximately $102,000. Paloma Partners Management Co purchased a new stake in shares of Bridge Investment Group in the 3rd quarter valued at $110,000. XTX Topco Ltd bought a new position in shares of Bridge Investment Group during the 3rd quarter valued at $127,000. Finally, Quest Partners LLC purchased a new position in Bridge Investment Group in the 3rd quarter worth $448,000. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

Bridge Investment Group Company 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.