Bridge Investment Group (NYSE:BRDG) Hits New 12-Month High – Should You Buy?

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $10.99 and last traded at $10.98, with a volume of 149832 shares trading hands. The stock had previously closed at $10.90.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BRDG shares. Morgan Stanley upped their target price on shares of Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their price target on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. TD Cowen cut Bridge Investment Group from a “buy” rating to a “hold” rating and increased their price target for the stock from $10.00 to $10.50 in a report on Monday, October 14th. Finally, UBS Group upped their price objective on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bridge Investment Group has a consensus rating of “Moderate Buy” and an average price target of $11.70.

Bridge Investment Group Price Performance

The stock has a 50 day simple moving average of $9.52 and a 200-day simple moving average of $8.19. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85. The firm has a market cap of $1.27 billion, a PE ratio of -95.45 and a beta of 1.65.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. The firm had revenue of $104.76 million during the quarter, compared to the consensus estimate of $79.05 million. During the same period in the previous year, the company posted $0.20 earnings per share. Equities analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.76 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.13 per share. The ex-dividend date was Friday, August 30th. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 4.95%. Bridge Investment Group’s dividend payout ratio is currently -472.68%.

Institutional Investors Weigh In On Bridge Investment Group

A number of institutional investors and hedge funds have recently made changes to their positions in BRDG. Albion Financial Group UT purchased a new stake in Bridge Investment Group in the 2nd quarter valued at approximately $37,000. Quarry LP raised its stake in Bridge Investment Group by 22.5% during the second quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after purchasing an additional 1,535 shares during the period. HBK Sorce Advisory LLC increased its position in Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock worth $146,000 after purchasing an additional 4,035 shares in the last quarter. Bank of New York Mellon Corp raised its position in Bridge Investment Group by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after purchasing an additional 1,735 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of Bridge Investment Group by 22.0% in the second quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock valued at $852,000 after purchasing an additional 20,726 shares during the period. 52.83% of the stock is owned by hedge funds and other institutional investors.

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.