Arrowstreet Capital Limited Partnership Has $2.35 Million Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Arrowstreet Capital Limited Partnership raised its position in Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 322.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,196 shares of the company's stock after purchasing an additional 213,857 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.23% of Bridge Investment Group worth $2,354,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Bridge Investment Group by 11.2% in the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company's stock valued at $4,026,000 after purchasing an additional 40,975 shares during the period. Jane Street Group LLC purchased a new stake in shares of Bridge Investment Group during the 3rd quarter valued at $102,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Bridge Investment Group during the 4th quarter worth $221,000. XTX Topco Ltd acquired a new position in Bridge Investment Group in the third quarter valued at $127,000. Finally, Jennison Associates LLC grew its position in Bridge Investment Group by 0.9% during the fourth quarter. Jennison Associates LLC now owns 3,402,475 shares of the company's stock valued at $28,581,000 after acquiring an additional 31,593 shares during the period. 52.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bridge Investment Group Price Performance

Bridge Investment Group stock traded up $0.18 during trading hours on Tuesday, hitting $9.00. 16,821 shares of the company traded hands, compared to its average volume of 261,699. The firm's 50-day simple moving average is $9.10 and its two-hundred day simple moving average is $9.21. The firm has a market cap of $1.11 billion, a P/E ratio of 224.56 and a beta of 1.46. Bridge Investment Group Holdings Inc. has a 1-year low of $6.49 and a 1-year 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 - Get Free Report) last announced its earnings results on Monday, February 24th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The business had revenue of $81.96 million during the quarter, compared to analysts' expectations of $82.02 million. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.89%. This is a positive change from Bridge Investment Group's previous quarterly dividend of $0.10. Bridge Investment Group's payout ratio is currently 488.89%.

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.