Bridge Investment Group Holdings Inc. (NYSE:BRDG) Vice Chairman Dean Allara Sells 10,877 Shares

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Vice Chairman Dean Allara sold 10,877 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 transaction of $90,387.87. Following the sale, the insider now directly owns 662,473 shares in the company, valued at $5,505,150.63. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Dean Allara also recently made the following trade(s):

• On Thursday, January 2nd, Dean Allara sold 10,438 shares of Bridge Investment Group stock. The shares were sold at an average price of $8.29, for a total transaction of $86,531.02.

Bridge Investment Group Stock Performance

BRDG stock traded up $0.02 on Monday, reaching $8.27. The company’s stock had a trading volume of 519,523 shares, compared to its average volume of 313,608. The firm has a fifty day moving average of $9.49 and a two-hundred day moving average of $8.89. 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 company has a market capitalization of $1.00 billion, a P/E ratio of 206.80 and a beta of 1.57. Bridge Investment Group Holdings Inc. has a 52 week low of $6.18 and a 52 week high of $11.69.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS 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 analyst estimates of $85.00 million. During the same period last year, the business posted $0.22 earnings per share. As a group, analysts predict that Bridge Investment Group Holdings Inc. 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. Stockholders of record on Friday, December 6th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is currently 1,000.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC lifted its position in Bridge Investment Group by 2.3% in the third quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock worth $33,271,000 after purchasing an additional 74,779 shares during the period. FMR LLC raised its stake in shares of Bridge Investment Group by 288.0% in the 3rd quarter. FMR LLC now owns 1,509,690 shares of the company’s stock worth $14,901,000 after buying an additional 1,120,549 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Bridge Investment Group by 1.1% in the third quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock valued at $13,383,000 after buying an additional 14,235 shares during the period. Royce & Associates LP boosted its stake in Bridge Investment Group by 1.2% during the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock valued at $7,632,000 after buying an additional 8,909 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Bridge Investment Group by 11.2% during the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after acquiring an additional 40,975 shares during the period. Institutional investors and hedge funds own 52.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BRDG. TD Cowen decreased their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. UBS Group upped their price objective on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $14.00 to $11.00 in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Bridge Investment Group has a consensus rating of “Hold” and an average price target of $11.00.

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.