Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Up 25.2% in December

Bridge Investment Group Holdings Inc. (NYSE:BRDG) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 351,900 shares, a growth of 25.2% from the November 30th total of 281,000 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 233,700 shares, the short-interest ratio is presently 1.5 days.

Institutional Trading of Bridge Investment Group

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. grew its position in Bridge Investment Group by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock valued at $13,383,000 after purchasing an additional 14,235 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Bridge Investment Group by 11.2% in the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after buying an additional 40,975 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Bridge Investment Group during the third quarter valued at approximately $127,000. Jane Street Group LLC bought a new stake in shares of Bridge Investment Group during the third quarter valued at approximately $102,000. Finally, State Street Corp raised its holdings in Bridge Investment Group by 12.0% in the 3rd 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 last quarter. 52.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on BRDG. Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. TD Cowen cut their price objective on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Wells Fargo & Company upped their target price on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, UBS Group lifted their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Bridge Investment Group presently has an average rating of “Hold” and a consensus target price of $11.00.

Bridge Investment Group Stock Down 0.1 %

Shares of NYSE:BRDG opened at $8.37 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $11.69. The firm has a market capitalization of $1.01 billion, a P/E ratio of 209.30 and a beta of 1.54. The stock has a 50 day moving average price of $9.77 and a 200-day moving average price of $8.84.

Bridge Investment Group (NYSE:BRDG) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. During the same quarter last year, the firm posted $0.22 EPS. As a group, equities research analysts anticipate that Bridge Investment Group will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is 1,000.00%.

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.