Robert Randolph Morse Sells 47,252 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse sold 47,252 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $392,664.12. Following the completion of the sale, the chairman now owns 3,157,271 shares in the company, valued at approximately $26,236,922.01. This trade represents a 1.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Robert Randolph Morse also recently made the following trade(s):

• On Thursday, January 2nd, Robert Randolph Morse sold 45,343 shares of Bridge Investment Group stock. The shares were sold at an average price of $8.29, for a total transaction of $375,893.47.

Bridge Investment Group Price Performance

Shares of NYSE BRDG opened at $7.65 on Thursday. The stock has a market capitalization of $926.29 million, a PE ratio of 191.30 and a beta of 1.57. Bridge Investment Group Holdings Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $11.69. 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 business has a fifty day moving average price of $9.37 and a two-hundred day moving average price of $8.88.

Bridge Investment Group (NYSE:BRDG) last posted 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 analyst estimates of $85.00 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. During the same period last year, the firm earned $0.22 EPS. As a group, equities analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors 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 annualized dividend and a dividend yield of 5.23%. Bridge Investment Group’s dividend payout ratio is 1,000.00%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. UBS Group increased their target price on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $14.00 to $11.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday. Finally, TD Cowen reduced their target price on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Bridge Investment Group currently has an average rating of “Hold” and a consensus target price of $10.70.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BRDG. Jennison Associates LLC boosted its holdings in shares of Bridge Investment Group by 2.3% in the 3rd quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock valued at $33,271,000 after purchasing an additional 74,779 shares in the last quarter. FMR LLC lifted its position in shares of Bridge Investment Group by 288.0% during the 3rd quarter. FMR LLC now owns 1,509,690 shares of the company’s stock worth $14,901,000 after buying an additional 1,120,549 shares during the last quarter. Franklin Resources Inc. boosted its stake in Bridge Investment Group by 1.1% in the third quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock valued at $13,383,000 after buying an additional 14,235 shares in the last quarter. Royce & Associates LP grew its position in Bridge Investment Group by 1.2% in the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock valued at $7,632,000 after acquiring an additional 8,909 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Bridge Investment Group by 11.2% during the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after acquiring an additional 40,975 shares in the last quarter. 52.83% of the stock is owned by institutional investors.

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.