Insider Selling: Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Sells 47,252 Shares of Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse sold 47,252 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $392,664.12. Following the completion of the transaction, the chairman now owns 3,157,271 shares of the company’s stock, valued at $26,236,922.01. The trade was a 1.47 % 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 the SEC website.

Robert Randolph Morse also recently made the following trade(s):

• On Thursday, January 2nd, Robert Randolph Morse sold 45,343 shares of Bridge Investment Group stock. The stock was sold at an average price of $8.29, for a total transaction of $375,893.47.

Bridge Investment Group Trading Up 0.2 %

Shares of NYSE BRDG opened at $8.27 on Tuesday. Bridge Investment Group Holdings Inc. has a 1-year low of $6.18 and a 1-year high of $11.69. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50 day moving average is $9.49 and its two-hundred day moving average is $8.89. The stock has a market capitalization of $1.00 billion, a P/E ratio of 206.80 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. During the same period in the prior year, the firm posted $0.22 EPS. As a group, research analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is currently 1,000.00%.

Institutional Investors Weigh In On Bridge Investment Group

Institutional investors have recently made changes to their positions in the company. Quarry LP raised its position in Bridge Investment Group by 22.5% in the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after purchasing an additional 1,535 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Bridge Investment Group by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after buying an additional 1,735 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Bridge Investment Group by 1.2% in the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after buying an additional 8,909 shares during the period. Jane Street Group LLC purchased a new position in Bridge Investment Group during the 3rd quarter valued at $102,000. Finally, Paloma Partners Management Co bought a new position in Bridge Investment Group in the 3rd quarter valued at $110,000. Institutional investors own 52.83% of the company’s stock.

Analysts Set New Price Targets

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

About Bridge Investment Group

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.