Millennium Management LLC Trims Stock Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Millennium Management LLC lowered its stake in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 7.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 570,239 shares of the company’s stock after selling 43,581 shares during the period. Millennium Management LLC owned about 0.47% of Bridge Investment Group worth $4,231,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Marshall Wace LLP raised its stake in shares of Bridge Investment Group by 22.0% during the 2nd quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock valued at $852,000 after buying an additional 20,726 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Bridge Investment Group by 21.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock valued at $1,273,000 after buying an additional 30,620 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Bridge Investment Group by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after purchasing an additional 1,735 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of Bridge Investment Group in the 2nd quarter valued at about $37,000. Finally, Thornburg Investment Management Inc. increased 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 valued at $5,358,000 after purchasing an additional 504,812 shares in the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Bridge Investment Group Stock Performance

Shares of Bridge Investment Group stock opened at $10.52 on Friday. The business has a 50-day moving average of $8.61 and a 200 day moving average of $7.79. Bridge Investment Group Holdings Inc. has a 12 month low of $6.18 and a 12 month high of $10.76. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -95.63 and a beta of 1.65. 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 announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $79.05 million. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. During the same quarter last year, the business posted $0.20 EPS. As a group, sell-side analysts forecast that Bridge Investment Group Holdings Inc. will post 0.77 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.13 per share. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.52 annualized dividend and a yield of 4.94%. Bridge Investment Group’s payout ratio is -472.68%.

Insiders Place Their Bets

In other news, Chairman Robert Randolph Morse sold 25,971 shares of the business’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 value of $208,547.13. Following the transaction, the chairman now owns 2,554,419 shares of the company’s stock, valued at approximately $20,511,984.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 25,971 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total transaction of $208,547.13. Following the sale, the chairman now directly owns 2,554,419 shares in the company, valued at approximately $20,511,984.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Slager sold 6,409 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total value of $51,464.27. Following the sale, the chief executive officer now owns 773,884 shares in the company, valued at approximately $6,214,288.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,366 shares of company stock valued at $687,133 over the last quarter. Company insiders own 65.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company boosted their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock 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 company. According to MarketBeat, Bridge Investment Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.90.

Bridge Investment Group 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.