Bridge Investment Group Holdings Inc. (NYSE:BRDG) CEO Jonathan Slager Sells 11,403 Shares

Bridge Investment Group Holdings Inc. (NYSE:BRDG) CEO Jonathan Slager sold 11,403 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 approximately $7,978,967.49. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Bridge Investment Group Stock Down 10.0 %

BRDG opened at $7.47 on Wednesday. The firm has a market cap of $904.50 million, a P/E ratio of 186.80 and a beta of 1.57. 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 business’s fifty day simple moving average is $9.43 and its 200 day simple moving average is $8.89. Bridge Investment Group Holdings Inc. has a 52 week low of $6.18 and a 52 week high of $11.69.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The business had revenue of $101.51 million for the quarter, compared to analyst estimates 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 earned $0.22 EPS. As a group, equities research analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 EPS 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. Investors of record on Friday, December 6th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, December 6th. This represents a $0.40 annualized dividend and a dividend yield of 5.35%. Bridge Investment Group’s payout ratio is 1,000.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BRDG shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday. UBS Group lifted their price objective on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen reduced 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 research note on Tuesday, November 12th. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Bridge Investment Group currently has a consensus rating of “Hold” and a consensus price target of $10.70.

Institutional Investors Weigh In On Bridge Investment Group

A number of large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in shares of Bridge Investment Group by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after acquiring an additional 1,735 shares in the last quarter. 1832 Asset Management L.P. raised its position 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 worth $1,273,000 after purchasing an additional 30,620 shares during the period. Marshall Wace LLP boosted its holdings 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 valued at $852,000 after acquiring an additional 20,726 shares during the period. Quarry LP increased its holdings in shares of Bridge Investment Group by 22.5% in the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after acquiring an additional 1,535 shares during the period. Finally, Royce & Associates LP lifted its position in Bridge Investment Group by 1.2% in the 3rd quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock valued at $7,632,000 after purchasing an additional 8,909 shares during the last quarter. Institutional investors and hedge funds 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.