Bridge Investment Group (NYSE:BRDG) Reaches New 52-Week High After Analyst Upgrade

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) reached a new 52-week high during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $11.00 to $14.00. Morgan Stanley currently has an overweight rating on the stock. Bridge Investment Group traded as high as $10.15 and last traded at $10.14, with a volume of 378355 shares changing hands. The stock had previously closed at $9.75.

Separately, Wells Fargo & Company lifted their price objective on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.90.

Insider Buying and Selling at Bridge Investment Group

In other news, COO Adam O’farrell sold 3,748 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $8.26, for a total transaction of $30,958.48. Following the completion of the transaction, the chief operating officer now directly owns 455,514 shares of the company’s stock, valued at approximately $3,762,545.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Dean Allara sold 5,764 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total transaction of $46,284.92. Following the completion of the sale, the insider now owns 544,044 shares in the company, valued at approximately $4,368,673.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Adam O’farrell sold 3,748 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $8.26, for a total value of $30,958.48. Following the sale, the chief operating officer now directly owns 455,514 shares of the company’s stock, valued at approximately $3,762,545.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,366 shares of company stock valued at $687,133. Insiders own 65.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Thornburg Investment Management Inc. lifted its position in Bridge Investment Group by 181.2% in the first quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock valued at $5,358,000 after purchasing an additional 504,812 shares during the period. Jennison Associates LLC boosted its stake 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 worth $22,339,000 after acquiring an additional 206,840 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Bridge Investment Group in the 1st quarter worth approximately $966,000. Quadrature Capital Ltd acquired a new position in Bridge Investment Group during the fourth quarter worth $460,000. Finally, Marshall Wace LLP raised its holdings in Bridge Investment Group by 22.0% during the second quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock worth $852,000 after purchasing an additional 20,726 shares during the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

Bridge Investment Group Stock Performance

The company has a market capitalization of $1.27 billion, a PE ratio of -95.58 and a beta of 1.65. The stock has a 50-day simple moving average of $8.61 and a 200 day simple moving average of $7.78. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.21.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. The company had revenue of $104.76 million during the quarter, compared to the consensus estimate of $79.05 million. During the same quarter last year, the business posted $0.20 earnings per share. Equities analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.77 EPS for the current fiscal 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 issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 4.95%. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, August 30th. Bridge Investment Group’s dividend payout ratio is -472.68%.

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.