Bridge Investment Group (NYSE:BRDG) Sees Strong Trading Volume – Should You Buy?

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shares saw unusually-strong trading volume on Thursday . Approximately 357,207 shares traded hands during trading, an increase of 53% from the previous session’s volume of 233,571 shares.The stock last traded at $9.70 and had previously closed at $9.81.

Analysts Set New Price Targets

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

Bridge Investment Group Price Performance

The company has a market capitalization of $1.18 billion, a P/E ratio of -40.75 and a beta of 1.65. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The business has a 50 day simple moving average of $8.37 and a 200-day simple moving average of $7.63.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. The firm had revenue of $104.76 million for the quarter, compared to the consensus estimate of $79.05 million. During the same period last year, the firm posted $0.20 EPS. Analysts predict that Bridge Investment Group Holdings Inc. will post 0.77 EPS for the current fiscal 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 issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.31%. 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 -216.67%.

Insider Buying and Selling at Bridge Investment Group

In other news, Chairman Robert Randolph Morse sold 25,823 shares of the 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 owns 2,605,033 shares of the company’s stock, valued at approximately $21,517,572.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Jonathan Slager sold 6,409 shares of the 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 $51,464.27. Following the completion of the transaction, the chief executive officer now directly owns 773,884 shares in the company, valued at $6,214,288.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Robert Randolph Morse sold 25,823 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now directly owns 2,605,033 shares in the company, valued at approximately $21,517,572.58. The trade was a 0.00 % decrease in their position. 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 quarter. Corporate insiders own 65.90% of the company’s stock.

Hedge Funds Weigh In On Bridge Investment Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thornburg Investment Management Inc. grew its stake in shares of Bridge Investment Group by 181.2% in the 1st 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 last quarter. 1832 Asset Management L.P. bought a new stake in Bridge Investment Group during the first quarter worth approximately $966,000. Quarry LP acquired a new position in Bridge Investment Group in the fourth quarter worth approximately $37,000. Quadrature Capital Ltd bought a new position in shares of Bridge Investment Group in the fourth quarter valued at $460,000. Finally, Bank of New York Mellon Corp lifted its position 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 valued at $411,000 after acquiring an additional 1,735 shares during the last quarter. 52.83% of the stock is owned by institutional investors.

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.