Geode Capital Management LLC Raises Stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Geode Capital Management LLC raised its position in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 11.2% during the third quarter, HoldingsChannel reports. The firm owned 407,709 shares of the company’s stock after buying an additional 40,975 shares during the quarter. Geode Capital Management LLC’s holdings in Bridge Investment Group were worth $4,026,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FMR LLC grew its stake in shares of Bridge Investment Group by 288.0% during the third quarter. FMR LLC now owns 1,509,690 shares of the company’s stock worth $14,901,000 after purchasing an additional 1,120,549 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Bridge Investment Group by 2.3% during the 3rd quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock worth $33,271,000 after acquiring an additional 74,779 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Bridge Investment Group in the 3rd quarter valued at about $638,000. Quest Partners LLC acquired a new stake in shares of Bridge Investment Group during the 3rd quarter worth about $448,000. Finally, 1832 Asset Management L.P. lifted its stake in 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 during the last quarter. 52.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on BRDG shares. TD Cowen dropped their price target on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. UBS Group increased their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley cut shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised their price objective on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Bridge Investment Group has a consensus rating of “Hold” and a consensus price target of $11.00.

Bridge Investment Group Stock Performance

Shares of Bridge Investment Group stock opened at $8.25 on Monday. The firm’s fifty day simple moving average is $9.54 and its 200-day simple moving average is $8.88. Bridge Investment Group Holdings Inc. has a 12 month low of $6.18 and a 12 month high of $11.69. The stock has a market capitalization of $998.94 million, a price-to-earnings ratio of 206.30 and a beta of 1.54. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The business had revenue of $101.51 million during the quarter, compared to analyst estimates of $85.00 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. As a group, equities analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.85%. The ex-dividend date was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is presently 1,000.00%.

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.