Bridge Investment Group Holdings Inc. (NYSE:BRDG) Sees Significant Growth in Short Interest

Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 428,600 shares, a growth of 21.8% from the December 15th total of 351,900 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average trading volume of 240,700 shares, the short-interest ratio is presently 1.8 days.

Bridge Investment Group Stock Performance

Bridge Investment Group stock traded up $0.18 during mid-day trading on Friday, reaching $7.89. The company’s stock had a trading volume of 133,255 shares, compared to its average volume of 274,578. The firm has a market cap of $955.08 million, a price-to-earnings ratio of 197.25 and a beta of 1.57. Bridge Investment Group has a twelve month low of $6.18 and a twelve month high of $11.69. The business has a 50 day moving average price of $8.97 and a 200-day moving average price of $8.88. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share 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 business had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. During the same period in the prior year, the company earned $0.22 EPS. Sell-side analysts predict that Bridge Investment Group will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.07%. The ex-dividend date was Friday, December 6th. Bridge Investment Group’s dividend payout ratio (DPR) is 1,000.25%.

Insider Transactions at Bridge Investment Group

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 47,252 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $392,664.12. Following the completion of the sale, the chairman now owns 3,157,271 shares of the company’s stock, valued at $26,236,922.01. This trade represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam O’farrell sold 6,655 shares of the business’s 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 directly owns 551,512 shares in the company, valued at approximately $4,572,034.48. The trade was a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,187 shares of company stock valued at $1,204,966 over the last 90 days. Corporate insiders own 73.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in shares of Bridge Investment Group by 22.5% during the second quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after acquiring an additional 1,535 shares during the period. Jane Street Group LLC acquired a new position in Bridge Investment Group during the 3rd quarter valued at about $102,000. Paloma Partners Management Co bought a new position in Bridge Investment Group in the 3rd quarter worth about $110,000. XTX Topco Ltd bought a new stake in shares of Bridge Investment Group during the third quarter valued at approximately $127,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Bridge Investment Group by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after buying an additional 1,735 shares during the period. 52.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BRDG has been the topic of a number of analyst reports. TD Cowen dropped their target price on 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. Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $14.00 to $11.00 in a report on Friday, November 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. UBS Group lifted their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company reduced their price objective on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Bridge Investment Group currently has an average rating of “Hold” and an average target price of $10.40.

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.