Robert Randolph Morse Sells 47,252 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse sold 47,252 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 $392,664.12. Following the transaction, the chairman now owns 3,157,271 shares in the company, valued at $26,236,922.01. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, January 2nd, Robert Randolph Morse sold 45,343 shares of Bridge Investment Group stock. The shares were sold at an average price of $8.29, for a total value of $375,893.47.

Bridge Investment Group Stock Down 10.0 %

BRDG stock opened at $7.47 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. The company’s 50 day simple moving average is $9.43 and its 200-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. The firm has a market capitalization of $904.50 million, a PE ratio of 186.80 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 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 analyst estimates of $85.00 million. During the same quarter last year, the company posted $0.22 EPS. Equities analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s payout ratio is 1,000.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of 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 buying an additional 1,535 shares in the last quarter. Jane Street Group LLC purchased a new stake in Bridge Investment Group in the 3rd quarter worth approximately $102,000. Paloma Partners Management Co purchased a new position in Bridge Investment Group during the third quarter worth about $110,000. XTX Topco Ltd acquired a new stake in Bridge Investment Group in the 3rd quarter worth about $127,000. Finally, Bank of New York Mellon Corp grew its holdings in Bridge Investment Group by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after buying an additional 1,735 shares during the period. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on BRDG. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $14.00 to $11.00 in a report on Friday, November 8th. TD Cowen dropped their target price 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. 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 research note on Tuesday, October 22nd. Finally, Wells Fargo & Company lifted 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 equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.70.

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.