Royce & Associates LP Boosts Stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Royce & Associates LP raised its position in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 999,626 shares of the company’s stock after purchasing an additional 226,396 shares during the quarter. Royce & Associates LP’s holdings in Bridge Investment Group were worth $8,397,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in shares of Bridge Investment Group in the third quarter valued at approximately $102,000. Paloma Partners Management Co purchased a new position in Bridge Investment Group in the 3rd quarter valued at approximately $110,000. XTX Topco Ltd acquired a new position in shares of Bridge Investment Group in the third quarter worth $127,000. State Street Corp increased its position in shares of Bridge Investment Group by 12.0% during the third quarter. State Street Corp now owns 128,711 shares of the company’s stock worth $1,270,000 after acquiring an additional 13,800 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Bridge Investment Group by 1.1% in the third quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock valued at $13,383,000 after acquiring an additional 14,235 shares in the last quarter. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Bridge Investment Group Stock Down 0.9 %

Shares of NYSE BRDG opened at $9.60 on Wednesday. The business has a 50-day moving average of $8.50 and a two-hundred day moving average of $9.15. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 240.06 and a beta of 1.47. Bridge Investment Group Holdings Inc. has a 1 year low of $6.21 and a 1 year high of $11.69. 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 posted its earnings results on Monday, February 24th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $81.96 million during the quarter, compared to analysts’ expectations of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. On average, analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.58%. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, March 14th. Bridge Investment Group’s dividend payout ratio (DPR) is 488.89%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group boosted their target price on 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. restated a “neutral” rating and set a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $10.00 to $11.50 in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.90.

Insider Buying and Selling

In other Bridge Investment Group news, COO Adam O’farrell sold 6,655 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 $55,169.95. Following the transaction, the chief operating officer now owns 551,512 shares of the company’s stock, valued at $4,572,034.48. The trade was a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Dean Allara sold 10,438 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $86,531.02. Following the completion of the sale, the insider now owns 683,606 shares of the company’s stock, valued at approximately $5,667,093.74. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,187 shares of company stock worth $1,204,966 in the last ninety days. 65.90% of the stock is owned by corporate insiders.

Bridge Investment Group 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.