Bridge Investment Group (NYSE:BRDG) Sees Large Volume Increase – Here’s Why

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shares saw unusually-high trading volume on Thursday . Approximately 225,657 shares were traded during trading, a decline of 10% from the previous session’s volume of 250,267 shares.The stock last traded at $8.75 and had previously closed at $9.90.

Analyst Ratings Changes

BRDG has been the topic of several analyst reports. UBS Group raised their target price on shares of Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Wells Fargo & Company reduced 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. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.80.

Bridge Investment Group Price Performance

The stock has a market capitalization of $944.32 million, a PE ratio of 190.67 and a beta of 1.46. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50-day moving average is $9.03 and its 200 day moving average is $9.27.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. As a group, equities analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.11 dividend. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 5.77%. The ex-dividend date was Friday, March 14th. Bridge Investment Group’s dividend payout ratio is presently 488.89%.

Insider Activity

In related news, CFO Katherine Elsnab sold 3,206 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $26,641.86. Following the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Adam O’farrell sold 6,935 shares of the company’s 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 $57,629.85. Following the sale, the chief operating officer now directly owns 538,038 shares of the company’s stock, valued at approximately $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. Insiders have sold 68,270 shares of company stock valued at $567,324 in the last ninety days. 65.90% of the stock is currently owned by company insiders.

Institutional Trading of Bridge Investment Group

Several hedge funds have recently made changes to their positions in the company. FMR LLC raised its holdings in Bridge Investment Group by 288.0% during the third quarter. FMR LLC now owns 1,509,690 shares of the company’s stock worth $14,901,000 after purchasing an additional 1,120,549 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Bridge Investment Group during the 3rd quarter worth approximately $638,000. Paloma Partners Management Co purchased a new position in shares of Bridge Investment Group during the 3rd quarter worth approximately $110,000. State Street Corp lifted its holdings in shares of Bridge Investment Group by 12.0% in the 3rd quarter. State Street Corp now owns 128,711 shares of the company’s stock valued at $1,270,000 after buying an additional 13,800 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Bridge Investment Group in the third quarter valued at approximately $102,000. Institutional investors and hedge funds own 52.83% of the company’s stock.

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.