Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse Sells 45,343 Shares

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse sold 45,343 shares of Bridge Investment Group stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $375,893.47. Following the completion of the sale, the chairman now owns 3,249,076 shares in the company, valued at approximately $26,934,840.04. This trade represents a 1.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Robert Randolph Morse also recently made the following trade(s):

• On Monday, January 6th, Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock. The stock was sold at an average price of $8.31, for a total transaction of $392,664.12.

Bridge Investment Group Stock Up 0.2 %

Shares of BRDG stock traded up $0.02 during trading hours on Monday, hitting $8.27. 519,523 shares of the company’s stock traded hands, compared to its average volume of 313,608. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 206.80 and a beta of 1.57. The stock’s fifty day simple moving average is $9.49 and its two-hundred day simple moving average is $8.89. Bridge Investment Group Holdings Inc. has a 12-month low of $6.18 and a 12-month high of $11.69.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (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 company had revenue of $101.51 million for the quarter, compared to analysts’ expectations of $85.00 million. During the same quarter in the previous year, the firm posted $0.22 EPS. On average, analysts expect 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. Investors of record on Friday, December 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.84%. The ex-dividend date was Friday, December 6th. Bridge Investment Group’s dividend payout ratio (DPR) is 1,000.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Jennison Associates LLC increased its position in shares of Bridge Investment Group by 2.3% during the third quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock valued at $33,271,000 after acquiring an additional 74,779 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Bridge Investment Group by 3.2% during the 2nd 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 last quarter. XTX Topco Ltd bought a new stake in shares of Bridge Investment Group in the 3rd quarter worth $127,000. Geode Capital Management LLC raised its stake in shares of Bridge Investment Group by 11.2% in the third 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 during the last quarter. Finally, State Street Corp lifted its holdings in shares of Bridge Investment Group by 12.0% during the third quarter. State Street Corp now owns 128,711 shares of the company’s stock valued at $1,270,000 after purchasing an additional 13,800 shares in the last quarter. 52.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BRDG shares. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. 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. UBS Group lifted their price target on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen decreased their price objective on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.00.

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.