Jennison Associates LLC Has $28.58 Million Stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Jennison Associates LLC raised its holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,402,475 shares of the company’s stock after buying an additional 31,593 shares during the period. Jennison Associates LLC owned 2.81% of Bridge Investment Group worth $28,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in shares of Bridge Investment Group in the third quarter valued at about $102,000. Paloma Partners Management Co acquired a new position in shares of Bridge Investment Group during the 3rd quarter worth approximately $110,000. XTX Topco Ltd bought a new stake in shares of Bridge Investment Group during the 3rd quarter worth approximately $127,000. Quest Partners LLC acquired a new stake in shares of Bridge Investment Group in the 3rd quarter valued at approximately $448,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Bridge Investment Group in the third quarter valued at $638,000. 52.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Bridge Investment Group Stock Up 0.9 %

Bridge Investment Group stock opened at $7.99 on Wednesday. The company’s 50-day moving average price is $8.49 and its two-hundred 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. The stock has a market cap of $967.67 million, a P/E ratio of 199.85 and a beta of 1.56. Bridge Investment Group Holdings Inc. has a twelve month low of $6.18 and a twelve month high of $11.69.

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

Insider Buying and Selling at Bridge Investment Group

In other Bridge Investment Group news, CEO Jonathan Slager sold 11,403 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $94,530.87. Following the transaction, the chief executive officer now owns 962,481 shares in the company, valued at $7,978,967.49. This represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Dean Allara sold 10,877 shares of the firm’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 transaction of $90,387.87. Following the transaction, the insider now directly owns 662,473 shares in the company, valued at $5,505,150.63. This represents a 1.62 % 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 valued at $1,204,966 in the last ninety days. 73.00% of the stock is currently owned by corporate insiders.

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.