Bridge Investment Group (NYSE:BRDG) Reaches New 52-Week High – Time to Buy?

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.76 and last traded at $10.72, with a volume of 35747 shares trading hands. The stock had previously closed at $10.47.

Analysts Set New Price Targets

A number of research firms have issued reports on BRDG. Morgan Stanley lifted their price target on Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen downgraded Bridge Investment Group from a “buy” rating to a “hold” rating and lifted their price target for the company from $10.00 to $10.50 in a research note on Monday. Finally, Wells Fargo & Company boosted their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.80.

Bridge Investment Group Price Performance

The business has a 50 day moving average price of $8.74 and a two-hundred day moving average price of $7.85. The stock has a market cap of $1.31 billion, a PE ratio of -43.63 and a beta of 1.65. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.21.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $79.05 million. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. During the same quarter in the previous year, the firm posted $0.20 EPS. Research analysts expect that Bridge Investment Group Holdings Inc. will post 0.77 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Friday, August 30th. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.12. Bridge Investment Group’s payout ratio is -216.67%.

Insider Buying and Selling

In related news, Chairman Robert Randolph Morse sold 25,971 shares of Bridge Investment Group stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total value of $208,547.13. Following the sale, the chairman now owns 2,554,419 shares of the company’s stock, valued at approximately $20,511,984.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Robert Randolph Morse sold 25,971 shares of Bridge Investment Group stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total value of $208,547.13. Following the sale, the chairman now owns 2,554,419 shares of the company’s stock, valued at approximately $20,511,984.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Adam O’farrell sold 3,770 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total transaction of $30,273.10. Following the sale, the chief operating officer now directly owns 448,167 shares in the company, valued at $3,598,781.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,366 shares of company stock valued at $687,133. 65.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bridge Investment Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BRDG. Quarry LP bought a new stake in Bridge Investment Group during the 4th quarter valued at $37,000. Quadrature Capital Ltd purchased a new position in shares of Bridge Investment Group during the 4th quarter valued at $460,000. Jennison Associates LLC grew its position in shares of Bridge Investment Group by 6.8% during the 1st quarter. Jennison Associates LLC now owns 3,261,218 shares of the company’s stock valued at $22,339,000 after purchasing an additional 206,840 shares in the last quarter. HBK Sorce Advisory LLC grew its position in shares of Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after purchasing an additional 4,035 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of Bridge Investment Group by 0.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock valued at $5,898,000 after purchasing an additional 6,851 shares in the last quarter. Institutional investors 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.