Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Sells $392,664.12 in Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse sold 47,252 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 3,157,271 shares in the company, valued at $26,236,922.01. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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 value of $375,893.47.

Bridge Investment Group Stock Up 1.2 %

BRDG stock opened at $7.65 on Thursday. The business has a 50-day moving average of $9.37 and a 200-day moving average of $8.88. Bridge Investment Group Holdings Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $11.69. The stock has a market capitalization of $926.29 million, a P/E ratio of 191.30 and a beta of 1.57. 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 (NYSE:BRDG) last issued its quarterly earnings results 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 return on equity of 9.91% and a net margin of 1.92%. The business had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. During the same period in the prior year, the business earned $0.22 earnings per share. On average, sell-side analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Cuts Dividend

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

Institutional Trading of Bridge Investment Group

Several institutional investors and hedge funds have recently bought and sold shares of BRDG. Jennison Associates LLC grew its stake in Bridge Investment Group by 2.3% in the third 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 grew its stake in shares of Bridge Investment Group by 288.0% in the third quarter. FMR LLC now owns 1,509,690 shares of the company’s stock valued at $14,901,000 after buying an additional 1,120,549 shares in the last quarter. Franklin Resources Inc. increased its holdings in Bridge Investment Group by 1.1% during the third quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock worth $13,383,000 after buying an additional 14,235 shares during the last quarter. Royce & Associates LP raised its position in Bridge Investment Group by 1.2% during the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after acquiring an additional 8,909 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Bridge Investment Group by 11.2% in the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after acquiring an additional 40,975 shares during the last quarter. Institutional investors own 52.83% of the company’s stock.

Analysts Set New Price Targets

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

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.