Insider Selling: Bridge Investment Group Holdings Inc. (NYSE:BRDG) COO Sells 6,655 Shares of Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) COO Adam O’farrell sold 6,655 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $55,169.95. Following the sale, the chief operating officer now owns 551,512 shares of the company’s stock, valued at $4,572,034.48. This represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Adam O’farrell also recently made the following trade(s):

• On Monday, January 6th, Adam O’farrell sold 6,935 shares of Bridge Investment Group stock. The shares were sold at an average price of $8.31, for a total value of $57,629.85.

Bridge Investment Group Trading Up 1.2 %

Shares of BRDG opened at $7.65 on Thursday. Bridge Investment Group Holdings Inc. has a 1-year low of $6.18 and a 1-year high of $11.69. The firm has a market capitalization of $926.29 million, a price-to-earnings ratio of 191.30 and a beta of 1.57. The firm’s 50-day moving average price is $9.37 and its 200-day moving average price is $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 posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. During the same period in the previous year, the firm posted $0.22 earnings per share. Sell-side analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.10 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 5.23%. Bridge Investment Group’s dividend payout ratio (DPR) is 1,000.00%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. TD Cowen decreased their target price on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research report on Tuesday. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $14.00 to $11.00 in a report on Friday, November 8th. UBS Group boosted their price target on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their price objective on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.70.

Hedge Funds Weigh In On Bridge Investment Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased 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 acquiring an additional 1,120,549 shares in the last quarter. Jennison Associates LLC grew its holdings 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. Rockefeller Capital Management L.P. bought a new position in shares of Bridge Investment Group during the third quarter valued at approximately $638,000. Quest Partners LLC purchased a new position in shares of Bridge Investment Group during the third quarter valued at approximately $448,000. Finally, Geode Capital Management LLC boosted its position in shares of Bridge Investment Group by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after purchasing an additional 40,975 shares in the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

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.