Bridge Investment Group (NYSE:BRDG) Shares Up 3.4%

Bridge Investment Group Holdings Inc. (NYSE:BRDG) was up 3.4% during mid-day trading on Friday . The company traded as high as $6.93 and last traded at $6.93. Approximately 109,503 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 297,441 shares. The stock had previously closed at $6.70.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BRDG shares. Wells Fargo & Company decreased their target price on Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Morgan Stanley lowered their price target on Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. TD Cowen initiated coverage on Bridge Investment Group in a report on Thursday, January 4th. They set an “outperform” rating and a $11.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Finally, UBS Group lowered their price target on Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating on the stock in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bridge Investment Group has a consensus rating of “Moderate Buy” and an average price target of $10.67.

Bridge Investment Group Stock Up 3.0 %

The business has a 50 day simple moving average of $7.37 and a 200 day simple moving average of $8.15. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $835.38 million, a PE ratio of -15.33 and a beta of 1.61.

Bridge Investment Group (NYSE:BRDG) last issued its earnings results on Wednesday, February 21st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Bridge Investment Group had a negative net margin of 1.73% and a positive return on equity of 9.14%. The firm had revenue of $70.52 million during the quarter, compared to analysts’ expectations of $78.55 million. On average, equities research analysts forecast that Bridge Investment Group Holdings Inc. will post 0.78 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.28 dividend on an annualized basis and a yield of 4.06%. Bridge Investment Group’s dividend payout ratio (DPR) is currently -62.22%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jennison Associates LLC grew its stake in Bridge Investment Group by 3.9% in the third quarter. Jennison Associates LLC now owns 3,083,410 shares of the company’s stock valued at $28,367,000 after purchasing an additional 115,347 shares in the last quarter. Barclays PLC lifted its position in shares of Bridge Investment Group by 45.3% in the third quarter. Barclays PLC now owns 84,284 shares of the company’s stock worth $776,000 after buying an additional 26,294 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Bridge Investment Group in the third quarter worth about $121,000. Voss Capital LLC lifted its position in shares of Bridge Investment Group by 6.7% in the third quarter. Voss Capital LLC now owns 397,790 shares of the company’s stock worth $3,660,000 after buying an additional 25,070 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Bridge Investment Group by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 218,284 shares of the company’s stock worth $2,008,000 after buying an additional 1,735 shares during the last quarter. Hedge funds and other 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.