Bridge Investment Group (NYSE:BRDG) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw unusually-high trading volume on Wednesday . Approximately 540,655 shares changed hands during mid-day trading, an increase of 126% from the previous session’s volume of 239,347 shares.The stock last traded at $9.70 and had previously closed at $9.71.

Analyst Ratings Changes

Several equities analysts recently commented on BRDG shares. UBS Group boosted their price objective on shares of Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Wells Fargo & Company cut shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $10.00 to $11.50 in a research report on Thursday, February 27th. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $14.00 to $11.00 in a research note on Friday, November 8th. TD Cowen dropped their price target on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Bridge Investment Group currently has a consensus rating of “Hold” and an average target price of $10.90.

Bridge Investment Group Stock Up 0.4 %

The firm has a market capitalization of $1.18 billion, a P/E ratio of 243.69 and a beta of 1.55. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. The company’s fifty day simple moving average is $8.27 and its 200 day simple moving average is $9.05.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $81.96 million for the quarter, compared to the consensus estimate of $82.02 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. Research analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s dividend payout ratio (DPR) is currently 488.89%.

Insider Activity at Bridge Investment Group

In related news, Vice Chairman Dean Allara sold 10,438 shares of the firm’s 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 $86,531.02. Following the completion of the sale, the insider now directly owns 683,606 shares of the company’s stock, valued at approximately $5,667,093.74. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Slager sold 11,403 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $94,530.87. Following the completion of the sale, the chief executive officer now owns 962,481 shares in the company, valued at approximately $7,978,967.49. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,187 shares of company stock valued at $1,204,966. Insiders own 65.90% of the company’s stock.

Institutional Trading of Bridge Investment Group

Large investors have recently modified their holdings of the company. DigitalBridge Group Inc. lifted its holdings in shares of Bridge Investment Group by 24.4% in the 4th quarter. DigitalBridge Group Inc. now owns 508,035 shares of the company’s stock worth $4,267,000 after buying an additional 99,520 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Bridge Investment Group during the fourth quarter valued at approximately $89,000. Northern Trust Corp increased its holdings in Bridge Investment Group by 19.2% during the fourth quarter. Northern Trust Corp now owns 89,937 shares of the company’s stock valued at $755,000 after buying an additional 14,481 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Bridge Investment Group in the 4th quarter valued at $95,000. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Bridge Investment Group by 17.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 964,060 shares of the company’s stock valued at $8,098,000 after acquiring an additional 141,178 shares during the period. Hedge funds and other institutional investors 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.