Wells Fargo & Company Begins Coverage on Bridge Investment Group (NYSE:BRDG)

Wells Fargo & Company assumed coverage on shares of Bridge Investment Group (NYSE:BRDG) in a report issued on Thursday morning, MarketBeat reports. The brokerage issued an overweight rating and a $11.00 target price on the stock.

Bridge Investment Group Stock Up 4.5 %

Shares of NYSE:BRDG opened at $8.98 on Thursday. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $10.22. The stock has a market cap of $1.09 billion, a P/E ratio of -37.42 and a beta of 1.63. The business has a fifty day moving average of $7.94 and a two-hundred day moving average of $7.38. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.85.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) 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 analyst estimates 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 prior year, the firm posted $0.20 earnings per share. On average, research analysts expect that Bridge Investment Group will post 0.77 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.79%. 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 presently -216.66%.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief operating officer now directly owns 448,167 shares in the company, valued at approximately $3,598,781.01. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Robert Randolph Morse sold 25,823 shares of the business’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 $213,297.98. Following the sale, the chairman now directly owns 2,605,033 shares of the company’s stock, valued at approximately $21,517,572.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Adam O’farrell sold 3,770 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 448,167 shares in the company, valued at $3,598,781.01. The disclosure for this sale can be found here. Insiders sold a total of 84,366 shares of company stock valued at $687,133 over the last quarter. 65.90% of the stock is owned by insiders.

Institutional Trading of Bridge Investment Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its stake in shares of Bridge Investment Group by 6.8% in the first quarter. Jennison Associates LLC now owns 3,261,218 shares of the company’s stock valued at $22,339,000 after buying an additional 206,840 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Bridge Investment Group by 0.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock valued at $5,898,000 after acquiring an additional 6,851 shares in the last quarter. Thornburg Investment Management Inc. increased its stake in Bridge Investment Group by 181.2% during the first quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock worth $5,358,000 after purchasing an additional 504,812 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Bridge Investment Group by 21.7% during the second quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock worth $1,273,000 after purchasing an additional 30,620 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Bridge Investment Group in the fourth quarter valued at approximately $1,199,000. 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.