Bridge Investment Group Holdings Inc. (NYSE:BRDG – Get Rating) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 408,200 shares, a drop of 9.1% from the September 30th total of 449,000 shares. Based on an average daily volume of 92,900 shares, the days-to-cover ratio is presently 4.4 days. Currently, 1.5% of the shares of the company are sold short.
Analyst Ratings Changes
BRDG has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on Bridge Investment Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, August 10th. Credit Suisse Group began coverage on shares of Bridge Investment Group in a research report on Tuesday, October 18th. They issued a “neutral” rating and a $15.00 price target on the stock. TheStreet lowered shares of Bridge Investment Group from a “c-” rating to a “d+” rating in a research report on Wednesday, October 19th. Finally, Morgan Stanley decreased their target price on Bridge Investment Group from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.25.
Institutional Trading of Bridge Investment Group
Institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors increased its holdings in shares of Bridge Investment Group by 89.7% during the first quarter. Captrust Financial Advisors now owns 1,231 shares of the company’s stock worth $25,000 after buying an additional 582 shares in the last quarter. PDT Partners LLC increased its holdings in Bridge Investment Group by 13.6% during the 2nd quarter. PDT Partners LLC now owns 14,331 shares of the company’s stock valued at $208,000 after purchasing an additional 1,721 shares in the last quarter. Northern Trust Corp raised its position in Bridge Investment Group by 4.4% in the 2nd quarter. Northern Trust Corp now owns 42,203 shares of the company’s stock valued at $614,000 after purchasing an additional 1,784 shares during the last quarter. BlackRock Inc. boosted its stake in Bridge Investment Group by 1.1% in the first quarter. BlackRock Inc. now owns 342,538 shares of the company’s stock worth $6,971,000 after purchasing an additional 3,650 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Bridge Investment Group by 6.2% during the first quarter. Bank of New York Mellon Corp now owns 63,146 shares of the company’s stock worth $1,285,000 after purchasing an additional 3,703 shares during the last quarter. Institutional investors and hedge funds own 59.49% of the company’s stock.
Bridge Investment Group Stock Performance
Bridge Investment Group stock traded up $0.04 on Friday, hitting $15.39. The company’s stock had a trading volume of 168,690 shares, compared to its average volume of 107,424. Bridge Investment Group has a one year low of $13.74 and a one year high of $25.61. The firm has a market cap of $448.31 million, a P/E ratio of 8.95 and a beta of 1.82. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $15.60 and a 200-day moving average price of $16.53.
Bridge Investment Group (NYSE:BRDG – Get Rating) last posted its earnings results on Monday, August 8th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.13. The business had revenue of $99.02 million for the quarter. Bridge Investment Group had a net margin of 11.41% and a return on equity of 4.61%. On average, equities analysts anticipate that Bridge Investment Group will post 1.1 earnings per share for the current year.
Bridge Investment Group Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.80%. The ex-dividend date of this dividend was Thursday, September 1st. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.26. Bridge Investment Group’s dividend payout ratio (DPR) is 69.77%.
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.
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