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

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

Insider Activity at Bridge Investment Group

In other 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 value 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 $5,667,093.74. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Katherine Elsnab sold 3,206 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $26,641.86. Following the sale, the chief financial officer now owns 297,707 shares in the company, valued at $2,473,945.17. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,187 shares of company stock valued at $1,204,966 over the last three months. 65.90% of the stock is owned by corporate insiders.

Institutional Trading of Bridge Investment Group

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Bridge Investment Group by 11.2% during the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after buying an additional 40,975 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Bridge Investment Group in the 4th quarter worth approximately $221,000. Jane Street Group LLC acquired a new stake in shares of Bridge Investment Group during the 3rd quarter worth approximately $102,000. XTX Topco Ltd bought a new stake in shares of Bridge Investment Group during the third quarter valued at approximately $127,000. Finally, Jennison Associates LLC raised its stake in shares of Bridge Investment Group by 0.9% in the fourth quarter. Jennison Associates LLC now owns 3,402,475 shares of the company’s stock valued at $28,581,000 after purchasing an additional 31,593 shares in the last quarter. 52.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Bridge Investment Group Stock Up 0.6 %

BRDG stock traded up $0.06 during midday trading on Tuesday, reaching $9.64. The company had a trading volume of 102,980 shares, compared to its average volume of 248,422. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. Bridge Investment Group has a 1 year low of $6.31 and a 1 year high of $11.69. The company has a 50 day moving average of $8.95 and a two-hundred day moving average of $9.27. The company has a market capitalization of $1.19 billion, a P/E ratio of 240.94 and a beta of 1.47.

Bridge Investment Group (NYSE:BRDG) last posted its earnings results on Monday, February 24th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts expect that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.57%. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s payout ratio is 488.89%.

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.