Adam O’farrell Sells 6,655 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) COO Adam O’farrell sold 6,655 shares of Bridge Investment Group stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $55,169.95. Following the transaction, the chief operating officer now owns 551,512 shares in the company, valued at $4,572,034.48. This represents a 1.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Adam O’farrell also recently made the following trade(s):

• On Monday, January 6th, Adam O’farrell sold 6,935 shares of Bridge Investment Group stock. The stock was sold at an average price of $8.31, for a total value of $57,629.85.

Bridge Investment Group Trading Up 0.2 %

BRDG stock opened at $8.27 on Tuesday. 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 Holdings Inc. has a 1-year low of $6.18 and a 1-year high of $11.69. The business has a 50 day simple moving average of $9.49 and a two-hundred day simple moving average of $8.89. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 206.80 and a beta of 1.57.

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

Bridge Investment Group Cuts Dividend

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

Hedge Funds Weigh In On Bridge Investment Group

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

Wall Street Analyst Weigh In

BRDG has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. UBS Group increased their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $14.00 to $11.00 in a report on Friday, November 8th. Finally, TD Cowen decreased their price objective on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.