Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Down 17.6% in March

Bridge Investment Group Holdings Inc. (NYSE:BRDG) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 318,200 shares, a drop of 17.6% from the February 28th total of 386,200 shares. Currently, 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 350,400 shares, the short-interest ratio is presently 0.9 days.

Insider Buying and Selling

In other news, Vice Chairman Dean Allara sold 10,438 shares of Bridge Investment Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $86,531.02. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jonathan Slager sold 11,403 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $94,530.87. Following 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. Insiders have sold a total of 145,187 shares of company stock worth $1,204,966 in the last ninety days. Company insiders own 65.90% of the company’s stock.

Institutional Investors Weigh In On Bridge Investment Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRDG. Geode Capital Management LLC grew its stake in shares of Bridge Investment Group by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after acquiring an additional 40,975 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Bridge Investment Group in the 4th quarter valued at about $221,000. Jane Street Group LLC purchased a new stake in Bridge Investment Group in the third quarter valued at approximately $102,000. XTX Topco Ltd bought a new stake in shares of Bridge Investment Group during the 3rd quarter worth $127,000. Finally, Jennison Associates LLC lifted its stake in Bridge Investment Group by 0.9% during the fourth quarter. Jennison Associates LLC now owns 3,402,475 shares of the company’s stock worth $28,581,000 after purchasing an additional 31,593 shares during the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on BRDG shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Wells Fargo & Company dropped 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, UBS Group raised their target price on Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, Bridge Investment Group has a consensus rating of “Hold” and an average price target of $10.80.

Bridge Investment Group Stock Up 2.7 %

Shares of NYSE:BRDG traded up $0.26 during midday trading on Wednesday, hitting $9.92. 324,771 shares of the company’s stock were exchanged, compared to its average volume of 250,102. 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 has a 12 month low of $6.31 and a 12 month high of $11.69. The company has a market cap of $1.23 billion, a PE ratio of 248.06 and a beta of 1.47. The stock has a 50 day moving average price of $8.98 and a 200-day moving average price of $9.28.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $81.96 million during 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%. On average, sell-side analysts anticipate that Bridge Investment Group will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.11 dividend. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 4.44%. Bridge Investment Group’s dividend payout ratio is presently 488.89%.

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.