Bridge Investment Group Holdings Inc. (NYSE:BRDG) Sees Large Drop in Short Interest

Bridge Investment Group Holdings Inc. (NYSE:BRDG) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 318,200 shares, a decrease of 17.6% from the February 28th total of 386,200 shares. Based on an average daily volume of 350,400 shares, the short-interest ratio is currently 0.9 days. Approximately 0.9% of the company’s stock are sold short.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Bridge Investment Group from $11.50 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.80.

Bridge Investment Group Price Performance

BRDG traded down $1.03 during trading on Thursday, hitting $8.87. 287,500 shares of the stock traded hands, compared to its average volume of 378,139. The business has a 50 day moving average price of $9.02 and a 200 day moving average price of $9.28. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. Bridge Investment Group has a twelve month low of $6.37 and a twelve month high of $11.69. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 221.81 and a beta of 1.47.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $81.96 million during the quarter, compared to the consensus estimate of $82.02 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. Equities research analysts forecast that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.11 dividend. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 4.96%. Bridge Investment Group’s payout ratio is currently 488.89%.

Insiders Place Their Bets

In related news, Chairman Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $392,664.12. Following the sale, the chairman now owns 3,157,271 shares of the company’s stock, valued at approximately $26,236,922.01. The trade was a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Elsnab sold 3,206 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $26,641.86. Following the transaction, the chief financial officer now directly owns 297,707 shares of the company’s stock, valued at $2,473,945.17. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,270 shares of company stock worth $567,324. Corporate insiders own 65.90% of the company’s stock.

Institutional Trading of Bridge Investment Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. DigitalBridge Group Inc. raised its position in shares of Bridge Investment Group by 24.4% during the fourth quarter. DigitalBridge Group Inc. now owns 508,035 shares of the company’s stock worth $4,267,000 after acquiring an additional 99,520 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Bridge Investment Group in the 4th quarter worth approximately $89,000. Northern Trust Corp raised its stake in Bridge Investment Group by 19.2% during the fourth quarter. Northern Trust Corp now owns 89,937 shares of the company’s stock worth $755,000 after buying an additional 14,481 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in Bridge Investment Group in the fourth quarter valued at $95,000. Finally, Lord Abbett & CO. LLC boosted its position in Bridge Investment Group by 17.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 964,060 shares of the company’s stock valued at $8,098,000 after acquiring an additional 141,178 shares during the last quarter. 52.83% of the stock is currently owned by institutional investors and hedge funds.

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.