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

Bridge Investment Group Holdings Inc. (NYSE:BRDG)’s stock price gapped down before the market opened on Tuesday after an insider sold shares in the company. 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 changing hands.

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

Wall Street Analyst Weigh In

BRDG has been the topic of a number of recent analyst reports. 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 report on Wednesday, October 9th. UBS Group increased their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen decreased their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. restated a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday. Finally, Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Bridge Investment Group has an average rating of “Hold” and a consensus price target of $10.70.

Bridge Investment Group Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $946.88 million, a P/E ratio of 195.55 and a beta of 1.57. The stock has a fifty day simple moving average of $9.49 and a 200-day simple moving average of $8.89.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The company had revenue of $101.51 million during the quarter, compared to analyst estimates of $85.00 million. During the same quarter in the previous year, the business posted $0.22 EPS. Equities analysts forecast 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 paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is 1,000.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quarry LP grew its holdings in Bridge Investment Group by 22.5% in the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after buying an additional 1,535 shares in the last quarter. Jane Street Group LLC acquired a new position in Bridge Investment Group during the third quarter worth about $102,000. Paloma Partners Management Co acquired a new stake in Bridge Investment Group in the third quarter valued at approximately $110,000. XTX Topco Ltd bought a new position in Bridge Investment Group in the third quarter valued at about $127,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Bridge Investment Group by 3.2% during 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 and hedge funds own 52.83% of the company’s stock.

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.