Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Down 19.7% in March

Bridge Investment Group Holdings Inc. (NYSE:BRDG) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 255,500 shares, a decline of 19.7% from the March 15th total of 318,200 shares. Based on an average trading volume of 421,700 shares, the short-interest ratio is presently 0.6 days. Currently, 0.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

BRDG has been the topic of a number of analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. UBS Group boosted their target price on shares of Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their price target on shares of Bridge Investment Group from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.40.

Bridge Investment Group Price Performance

Shares of Bridge Investment Group stock traded up $0.12 during trading on Friday, hitting $8.88. 124,403 shares of the company were exchanged, compared to its average volume of 262,075. The firm has a 50 day moving average price of $9.18 and a 200 day moving average price of $9.18. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 221.98 and a beta of 1.46. 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 has a fifty-two week low of $6.50 and a fifty-two week high of $11.69.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $81.96 million for the quarter, compared to analyst estimates of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. On average, equities analysts expect that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.96%. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s dividend payout ratio (DPR) is 488.89%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Royce & Associates LP grew its holdings in Bridge Investment Group by 29.3% in the 4th quarter. Royce & Associates LP now owns 999,626 shares of the company’s stock valued at $8,397,000 after buying an additional 226,396 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Bridge Investment Group by 322.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 280,196 shares of the company’s stock worth $2,354,000 after purchasing an additional 213,857 shares during the period. Vanguard Group Inc. raised its holdings in Bridge Investment Group by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 3,481,145 shares of the company’s stock valued at $29,242,000 after buying an additional 208,022 shares during the period. Lord Abbett & CO. LLC lifted its position in Bridge Investment Group by 17.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 964,060 shares of the company’s stock valued at $8,098,000 after buying an additional 141,178 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Bridge Investment Group by 204.5% in the fourth quarter. Bank of New York Mellon Corp now owns 191,341 shares of the company’s stock worth $1,607,000 after acquiring an additional 128,505 shares in the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

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.