Bridge Investment Group Holdings Inc. (NYSE:BRDG) Vice Chairman Dean Allara Sells 10,877 Shares

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Vice Chairman Dean Allara sold 10,877 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $90,387.87. Following the completion of the transaction, the insider now directly owns 662,473 shares of the company’s stock, valued at approximately $5,505,150.63. This represents a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Dean Allara also recently made the following trade(s):

• On Thursday, January 2nd, Dean Allara sold 10,438 shares of Bridge Investment Group stock. The stock was sold at an average price of $8.29, for a total value of $86,531.02.

Bridge Investment Group Stock Up 1.2 %

Shares of NYSE:BRDG opened at $7.65 on Thursday. The company has a market capitalization of $926.29 million, a price-to-earnings ratio of 191.30 and a beta of 1.57. The company has a 50 day moving average of $9.37 and a two-hundred day moving average of $8.88. Bridge Investment Group Holdings Inc. has a 52-week low of $6.18 and a 52-week high of $11.69. 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 released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share 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 firm had revenue of $101.51 million for the quarter, compared to analyst estimates of $85.00 million. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.23%. 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

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew 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 in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Bridge Investment Group by 21.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock valued at $1,273,000 after buying an additional 30,620 shares during the last quarter. Marshall Wace LLP grew its position in shares of Bridge Investment Group by 22.0% during the second quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock worth $852,000 after buying an additional 20,726 shares in the last quarter. Quarry LP increased its stake in shares of Bridge Investment Group by 22.5% in 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 during the last quarter. Finally, Royce & Associates LP raised its holdings in Bridge Investment Group by 1.2% in the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock valued at $7,632,000 after acquiring an additional 8,909 shares in the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BRDG. JPMorgan Chase & Co. restated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a report on Tuesday. UBS Group upped their price objective 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 reduced their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock 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 dropped their target price for the stock from $14.00 to $11.00 in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped their price target on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.70.

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.