Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Update

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 31st, there was short interest totalling 428,600 shares, a growth of 21.8% from the December 15th total of 351,900 shares. Based on an average daily volume of 240,700 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.2% of the shares of the stock are short sold.

Bridge Investment Group Stock Up 2.3 %

Shares of NYSE BRDG traded up $0.18 during mid-day trading on Friday, reaching $7.89. The company had a trading volume of 133,255 shares, compared to its average volume of 274,578. 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 company has a market capitalization of $955.08 million, a price-to-earnings ratio of 197.25 and a beta of 1.57. The stock has a fifty day moving average of $8.97 and a two-hundred day moving average of $8.88. Bridge Investment Group has a 12-month low of $6.18 and a 12-month high of $11.69.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) 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 company had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. During the same quarter in the previous year, the company earned $0.22 EPS. As a group, equities research analysts expect that Bridge Investment Group will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 5.07%. Bridge Investment Group’s dividend payout ratio (DPR) is currently 1,000.25%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BRDG. UBS Group boosted their target price on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen reduced 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 research note on Tuesday, November 12th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their price target on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Morgan Stanley cut shares of 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. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.40.

Insider Buying and Selling

In other news, CEO Jonathan Slager sold 11,403 shares of Bridge Investment Group stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $94,530.87. Following the transaction, the chief executive officer now owns 962,481 shares of the company’s stock, valued at $7,978,967.49. The trade was a 1.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $392,664.12. Following the completion of the transaction, the chairman now owns 3,157,271 shares in the company, valued at approximately $26,236,922.01. This trade represents a 1.47 % decrease in their position. 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 90 days. 73.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jennison Associates LLC increased its holdings in Bridge Investment Group by 2.3% in the third quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock worth $33,271,000 after buying an additional 74,779 shares during the last quarter. Geode Capital Management LLC grew its position in 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 acquiring an additional 40,975 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 worth $411,000 after purchasing an additional 1,735 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Bridge Investment Group during the 3rd quarter valued at $127,000. Finally, Jane Street Group LLC acquired a new stake in shares of Bridge Investment Group in the 3rd quarter valued at $102,000. 52.83% of the stock is owned by institutional investors and hedge funds.

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.