Bridge Investment Group Holdings Inc. (NYSE:BRDG) Sees Significant Increase in Short Interest

Bridge Investment Group Holdings Inc. (NYSE:BRDG) was the target of a significant 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. Based on an average daily volume of 233,700 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Bridge Investment Group Trading Down 0.1 %

Bridge Investment Group stock opened at $8.37 on Tuesday. The firm has a 50-day moving average price of $9.73 and a two-hundred day moving average price of $8.85. 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 price-to-earnings ratio of 209.30 and a beta of 1.54. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last issued 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). Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The business had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. Sell-side analysts expect that Bridge Investment Group will post 0.68 earnings per share for the current 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. The ex-dividend date was Friday, December 6th. This represents a $0.40 annualized dividend and a yield of 4.78%. Bridge Investment Group’s dividend payout ratio (DPR) is presently 1,000.00%.

Hedge Funds Weigh In On Bridge Investment Group

A number of large investors have recently made changes to their positions in BRDG. Quarry LP increased its stake in Bridge Investment Group by 22.5% in the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after buying an additional 1,535 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Bridge Investment Group by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after acquiring an additional 1,735 shares during the last quarter. Royce & Associates LP raised its stake in shares of Bridge Investment Group by 1.2% in the 3rd quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock valued at $7,632,000 after acquiring an additional 8,909 shares in the last quarter. Jane Street Group LLC acquired a new stake in Bridge Investment Group in the 3rd quarter worth approximately $102,000. Finally, Paloma Partners Management Co bought a new stake in Bridge Investment Group during the third quarter worth approximately $110,000. Institutional investors and hedge funds own 52.83% of the company’s stock.

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.