Bridge Investment Group (NYSE:BRDG) Sees Strong Trading Volume

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw unusually-strong trading volume on Friday . Approximately 532,116 shares traded hands during mid-day trading, an increase of 127% from the previous session’s volume of 234,514 shares.The stock last traded at $9.23 and had previously closed at $9.17.

Analysts Set New Price Targets

Separately, Wells Fargo & Company initiated coverage on shares of Bridge Investment Group in a research report on Thursday, September 12th. They set an “overweight” rating and a $11.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $10.40.

Bridge Investment Group Stock Up 3.2 %

The company has a market capitalization of $1.14 billion, a PE ratio of -39.42 and a beta of 1.63. The stock’s fifty day moving average is $8.09 and its two-hundred day moving average is $7.45. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $104.76 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.20 EPS. As a group, analysts predict that Bridge Investment Group Holdings Inc. will post 0.77 EPS for the current year.

Bridge Investment Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.13 dividend. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date was Friday, August 30th. Bridge Investment Group’s dividend payout ratio (DPR) is currently -216.67%.

Insider Activity

In related news, Chairman Robert Randolph Morse sold 25,823 shares of Bridge Investment Group stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $8.26, for a total value of $213,297.98. Following the completion of the sale, the chairman now owns 2,605,033 shares of the company’s stock, valued at approximately $21,517,572.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Bridge Investment Group news, COO Adam O’farrell sold 3,770 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total transaction of $30,273.10. Following the sale, the chief operating officer now owns 448,167 shares in the company, valued at $3,598,781.01. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Robert Randolph Morse sold 25,823 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $8.26, for a total value of $213,297.98. Following the completion of the transaction, the chairman now directly owns 2,605,033 shares of the company’s stock, valued at $21,517,572.58. The disclosure for this sale can be found here. Insiders have sold 84,366 shares of company stock valued at $687,133 in the last 90 days. Insiders own 65.90% of the company’s stock.

Institutional Trading of Bridge Investment Group

A number of institutional investors have recently added to or reduced their stakes in BRDG. Quarry LP purchased a new position in Bridge Investment Group during the 4th quarter valued at about $37,000. Albion Financial Group UT bought a new stake in Bridge Investment Group during the 2nd quarter worth approximately $37,000. HBK Sorce Advisory LLC lifted its stake in Bridge Investment Group by 23.4% in the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock worth $146,000 after purchasing an additional 4,035 shares in the last quarter. Aigen Investment Management LP bought a new position in Bridge Investment Group in the 4th quarter valued at $249,000. Finally, Jump Financial LLC increased its holdings in shares of Bridge Investment Group by 142.7% in the fourth quarter. Jump Financial LLC now owns 31,800 shares of the company’s stock worth $311,000 after purchasing an additional 18,700 shares during the period. Hedge funds and other institutional investors own 52.83% of the company’s stock.

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.