Bridge Investment Group (NYSE:BRDG) Sees Unusually-High Trading Volume – Here’s Why

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shares saw strong trading volume on Thursday . 225,657 shares changed hands during mid-day trading, a decline of 10% from the previous session’s volume of 250,267 shares.The stock last traded at $8.75 and had previously closed at $9.90.

Analysts Set New Price Targets

BRDG has been the subject of several analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Wells Fargo & Company cut their target price on Bridge Investment Group from $11.50 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, March 20th. Finally, UBS Group increased their price target on Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Bridge Investment Group presently has an average rating of “Hold” and an average target price of $10.80.

Bridge Investment Group Trading Down 10.3 %

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 firm has a market cap of $1.10 billion, a price-to-earnings ratio of 222.06 and a beta of 1.47. The firm’s fifty day moving average is $9.02 and its 200-day moving average is $9.28.

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

Bridge Investment Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 4.95%. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s payout ratio is currently 488.89%.

Insider Buying and Selling at Bridge Investment Group

In related news, Chairman Robert Randolph Morse sold 47,252 shares of the stock in a transaction 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 transaction, the chairman now directly owns 3,157,271 shares in the company, valued at $26,236,922.01. This trade represents a 1.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Katherine Elsnab sold 3,206 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $26,641.86. Following the sale, the chief financial officer now owns 297,707 shares of the company’s stock, valued at $2,473,945.17. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,270 shares of company stock valued at $567,324. Corporate insiders own 65.90% of the company’s stock.

Hedge Funds Weigh In On Bridge Investment Group

Large investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Bridge Investment Group by 288.0% in 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 last quarter. Rockefeller Capital Management L.P. purchased a new stake in Bridge Investment Group in the 3rd quarter valued at $638,000. Paloma Partners Management Co bought a new position in Bridge Investment Group during the 3rd quarter valued at $110,000. State Street Corp boosted 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 acquiring an additional 13,800 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Bridge Investment Group in the 3rd quarter worth $102,000. Institutional investors own 52.83% of the company’s stock.

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.