Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Up 21.8% in January

Bridge Investment Group Holdings Inc. (NYSE:BRDG) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 428,600 shares, an increase of 21.8% from the December 31st total of 351,900 shares. Based on an average trading volume of 240,700 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.2% of the company’s stock are short sold.

Bridge Investment Group Stock Up 0.6 %

Bridge Investment Group stock opened at $8.03 on Friday. Bridge Investment Group has a 52 week low of $6.18 and a 52 week high of $11.69. The firm has a market cap of $972.03 million, a price-to-earnings ratio of 200.75 and a beta of 1.57. The business’s 50-day moving average price is $8.56 and its 200 day moving average price is $8.91. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last posted its earnings results 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 analysts’ expectations of $85.00 million. During the same period last year, the firm earned $0.22 earnings per share. As a group, sell-side analysts anticipate that Bridge Investment Group will post 0.68 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.98%. The ex-dividend date was Friday, December 6th. Bridge Investment Group’s payout ratio is currently 1,000.25%.

Insider Buying and Selling

In other Bridge Investment Group news, Vice Chairman Dean Allara sold 10,877 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $90,387.87. Following the completion of the sale, the insider now owns 662,473 shares of the company’s stock, valued at approximately $5,505,150.63. This trade represents a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Katherine Elsnab sold 3,078 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $25,516.62. Following the transaction, the chief financial officer now owns 303,937 shares in the company, valued at approximately $2,519,637.73. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,187 shares of company stock worth $1,204,966 in the last 90 days. 65.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bridge Investment Group

A number of institutional investors have recently modified their holdings of the business. Quarry LP boosted its position 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 in the last quarter. Royce & Associates LP raised its stake in shares of Bridge Investment Group by 1.2% during the 3rd quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after buying an additional 8,909 shares during the period. Jane Street Group LLC purchased a new position in shares of Bridge Investment Group during the 3rd quarter valued at approximately $102,000. Paloma Partners Management Co acquired a new stake in Bridge Investment Group in the 3rd quarter valued at $110,000. Finally, XTX Topco Ltd purchased a new stake in Bridge Investment Group in the 3rd quarter worth $127,000. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BRDG shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. 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 report on Tuesday, November 12th. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Wells Fargo & Company decreased their price objective on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, UBS Group increased their price objective on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.40.

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.