Bridge Investment Group (NYSE:BRDG) Trading 6.7% Higher

Bridge Investment Group Holdings Inc. (NYSE:BRDG)’s stock price traded up 6.7% on Thursday . The stock traded as high as $8.48 and last traded at $8.47. 59,976 shares traded hands during trading, a decline of 74% from the average session volume of 230,893 shares. The stock had previously closed at $7.94.

Analyst Ratings Changes

Separately, Wells Fargo & Company assumed coverage on shares of Bridge Investment Group in a research report on Thursday. They set an “overweight” rating and a $11.00 price objective for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.40.

Bridge Investment Group Stock Up 4.5 %

The business’s fifty day moving average price is $7.94 and its 200 day moving average price is $7.38. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -37.42 and a beta of 1.63. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85.

Bridge Investment Group (NYSE:BRDG) last announced its earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $79.05 million. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. During the same period in the previous year, the company posted $0.20 EPS. On average, equities analysts expect that Bridge Investment Group Holdings Inc. will post 0.77 EPS for the current year.

Bridge Investment Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.13 dividend. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 5.79%. The ex-dividend date of this dividend was Friday, August 30th. Bridge Investment Group’s payout ratio is currently -216.66%.

Insider Buying and Selling at Bridge Investment Group

In other Bridge Investment Group news, CEO Jonathan Slager sold 6,371 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $8.26, for a total transaction of $52,624.46. Following the sale, the chief executive officer now directly owns 786,373 shares in the company, valued at approximately $6,495,440.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 25,823 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $8.26, for a total transaction of $213,297.98. Following the sale, the chairman now directly owns 2,605,033 shares in the company, valued at approximately $21,517,572.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Slager sold 6,371 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $8.26, for a total transaction of $52,624.46. Following the sale, the chief executive officer now owns 786,373 shares in the company, valued at $6,495,440.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,366 shares of company stock valued at $687,133. 65.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bridge Investment Group

Several institutional investors and hedge funds have recently made changes to their positions in BRDG. Thornburg Investment Management Inc. lifted its holdings in Bridge Investment Group by 181.2% in the 1st quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock valued at $5,358,000 after purchasing an additional 504,812 shares in the last quarter. Jennison Associates LLC lifted its holdings in Bridge Investment Group by 6.8% in the 1st quarter. Jennison Associates LLC now owns 3,261,218 shares of the company’s stock valued at $22,339,000 after purchasing an additional 206,840 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Bridge Investment Group in the 1st quarter valued at about $966,000. Trexquant Investment LP purchased a new position in Bridge Investment Group in the 4th quarter valued at about $1,199,000. Finally, Janney Montgomery Scott LLC purchased a new position in Bridge Investment Group in the 4th quarter valued at about $586,000. 52.83% of the stock is currently owned by hedge funds and other 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.