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

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw an uptick in trading volume on Monday . 373,307 shares traded hands during mid-day trading, an increase of 105% from the previous session’s volume of 182,073 shares.The stock last traded at $8.37 and had previously closed at $8.25.

Analysts Set New Price Targets

BRDG has been the topic of several research reports. TD Cowen reduced their price target on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. Wells Fargo & Company upped their price target on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. UBS Group boosted their target price 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. Finally, Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $14.00 to $11.00 in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.00.

Bridge Investment Group Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50 day simple moving average is $9.54 and its 200 day simple moving average is $8.88. The firm has a market cap of $1.00 billion, a P/E ratio of 206.80 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $101.51 million during the quarter, compared to analyst estimates of $85.00 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. During the same quarter in the prior year, the company earned $0.22 EPS. Research analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date was Friday, December 6th. Bridge Investment Group’s payout ratio is currently 1,000.00%.

Institutional Investors Weigh In On Bridge Investment Group

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in Bridge Investment Group by 1.1% during the third quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock valued at $13,383,000 after buying an additional 14,235 shares during the period. Geode Capital Management LLC increased 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 purchasing an additional 40,975 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Bridge Investment Group in the 3rd quarter worth approximately $127,000. Jane Street Group LLC purchased a new position in Bridge Investment Group in the third quarter valued at approximately $102,000. Finally, State Street Corp lifted its stake in Bridge Investment Group by 12.0% in the third quarter. State Street Corp now owns 128,711 shares of the company’s stock valued at $1,270,000 after purchasing an additional 13,800 shares during the last quarter. 52.83% of the stock is owned by institutional investors.

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.