Bridge Investment Group (NYSE:BRDG) Shares Up 5.7%

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shares traded up 5.7% during trading on Wednesday . The stock traded as high as $7.06 and last traded at $7.00. 159,560 shares changed hands during trading, a decline of 44% from the average session volume of 286,772 shares. The stock had previously closed at $6.62.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TD Cowen assumed coverage on shares of Bridge Investment Group in a report on Thursday, January 4th. They set an “outperform” rating and a $11.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. UBS Group dropped their price objective on shares of Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating for the company in a report on Friday, March 15th. Morgan Stanley dropped their price objective on shares of Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating for the company in a report on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.67.

Bridge Investment Group Trading Up 1.2 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s fifty day moving average is $6.90 and its 200 day moving average is $8.00. The stock has a market cap of $839.62 million, a P/E ratio of -15.41 and a beta of 1.61.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Bridge Investment Group had a negative net margin of 1.73% and a positive return on equity of 9.14%. The business had revenue of $70.52 million during the quarter, compared to the consensus estimate of $78.55 million. As a group, equities research analysts predict that Bridge Investment Group Holdings Inc. will post 0.78 earnings per share for the current fiscal year.

Bridge Investment Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Thursday, March 7th. Bridge Investment Group’s dividend payout ratio (DPR) is currently -62.22%.

Institutional Trading of Bridge Investment Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRDG. Voss Capital LLC raised its position in Bridge Investment Group by 6.7% in the 3rd quarter. Voss Capital LLC now owns 397,790 shares of the company’s stock worth $3,660,000 after purchasing an additional 25,070 shares during the period. GW Henssler & Associates Ltd. purchased a new stake in Bridge Investment Group in the 3rd quarter worth about $103,000. Bank of New York Mellon Corp raised its position in Bridge Investment Group by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 218,284 shares of the company’s stock worth $2,008,000 after purchasing an additional 1,735 shares during the period. Jennison Associates LLC raised its position in Bridge Investment Group by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 3,083,410 shares of the company’s stock worth $28,367,000 after purchasing an additional 115,347 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Bridge Investment Group during the third quarter worth approximately $121,000. 52.83% of the stock is owned by hedge funds and other institutional investors.

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.