Jennison Associates LLC Acquires 31,593 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Jennison Associates LLC increased its holdings in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,402,475 shares of the company’s stock after buying an additional 31,593 shares during the quarter. Jennison Associates LLC’s holdings in Bridge Investment Group were worth $28,581,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. FMR LLC lifted its holdings in shares of Bridge Investment Group by 288.0% in the third 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 during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Bridge Investment Group during the 3rd quarter valued at approximately $638,000. Quest Partners LLC acquired a new position in Bridge Investment Group during the 3rd quarter worth approximately $448,000. Geode Capital Management LLC lifted its stake in Bridge Investment Group by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after purchasing an additional 40,975 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in 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 buying an additional 20,726 shares in the last quarter. 52.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bridge Investment Group

In other Bridge Investment Group news, Vice Chairman Dean Allara sold 10,877 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $90,387.87. Following the transaction, the insider now directly owns 662,473 shares of the company’s stock, valued at approximately $5,505,150.63. The trade was a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Katherine Elsnab sold 3,078 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $25,516.62. Following the transaction, the chief financial officer now owns 303,937 shares in the company, valued at $2,519,637.73. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 145,187 shares of company stock worth $1,204,966 over the last quarter. Company insiders own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Wells Fargo & Company dropped their target price on Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. UBS Group boosted their price target on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen dropped their price objective on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.40.

Bridge Investment Group Price Performance

Bridge Investment Group stock opened at $7.99 on Wednesday. The stock’s 50 day moving average is $8.49 and its 200 day moving average is $8.91. Bridge Investment Group Holdings Inc. has a one year low of $6.18 and a one year high of $11.69. The firm has a market cap of $967.67 million, a P/E ratio of 199.85 and a beta of 1.56. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings results 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 return on equity of 9.91% and a net margin of 1.92%. The firm had revenue of $101.51 million during the quarter, compared to analyst estimates of $85.00 million. During the same quarter last year, the firm posted $0.22 EPS. As a group, research analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

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.