Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Down 17.6% in March

Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 318,200 shares, a decline of 17.6% from the February 28th total of 386,200 shares. Based on an average daily volume of 350,400 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.9% of the shares of the stock are sold short.

Insider Buying and Selling at Bridge Investment Group

In related news, Chairman Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock in a transaction dated 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 directly 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 filing with the SEC, which is available through the SEC website. Also, Vice Chairman Dean Allara sold 10,877 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $90,387.87. Following the sale, the insider now directly owns 662,473 shares in the company, valued at approximately $5,505,150.63. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 145,187 shares of company stock valued at $1,204,966. 65.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its position 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 during the period. Rockefeller Capital Management L.P. bought a new position in Bridge Investment Group in the third quarter valued at approximately $638,000. Paloma Partners Management Co acquired a new position in Bridge Investment Group in the 3rd quarter worth $110,000. State Street Corp increased its holdings in Bridge Investment Group by 12.0% during the 3rd quarter. State Street Corp now owns 128,711 shares of the company’s stock worth $1,270,000 after purchasing an additional 13,800 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Bridge Investment Group in the 3rd quarter valued at about $102,000. 52.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BRDG. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 price objective (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. UBS Group lifted their price objective on Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their target price on shares of Bridge Investment Group from $11.50 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.80.

Bridge Investment Group Trading Up 0.6 %

NYSE BRDG traded up $0.06 on Tuesday, reaching $9.64. The company had a trading volume of 102,980 shares, compared to its average volume of 248,422. Bridge Investment Group has a 52 week low of $6.31 and a 52 week high of $11.69. The stock’s 50 day moving average is $8.95 and its 200-day moving average is $9.27. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 240.94 and a beta of 1.47.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $81.96 million during the quarter, compared to analysts’ expectations of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. Equities analysts predict that Bridge Investment Group will post 0.68 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.11 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.57%. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s dividend payout ratio is currently 488.89%.

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.