Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) saw unusually-strong trading volume on Tuesday following a better than expected earnings announcement. Approximately 695,335 shares changed hands during mid-day trading, an increase of 159% from the previous session's volume of 268,140 shares.The stock last traded at $10.26 and had previously closed at $10.60.
The company reported $0.18 earnings per share for the quarter, topping 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.
Bridge Investment Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.19%. This is a boost from Bridge Investment Group's previous quarterly dividend of $0.10. The ex-dividend date is Friday, March 14th. Bridge Investment Group's dividend payout ratio is currently 1,000.00%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on BRDG shares. UBS Group upped their target price on Bridge Investment Group from $7.50 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday. Morgan Stanley lowered Bridge Investment Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $14.00 to $11.00 in a research report on Friday, November 8th. TD Cowen reduced their price target on Bridge Investment Group from $10.50 to $10.00 and set a "hold" rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Company lowered Bridge Investment Group from an "overweight" rating to an "equal weight" rating and boosted their price target for the stock from $10.00 to $11.50 in a research report on Thursday. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $10.00 price target (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Bridge Investment Group presently has a consensus rating of "Hold" and an average price target of $10.90.
Get Our Latest Analysis on BRDG
Insider Transactions at Bridge Investment Group
In related news, Vice Chairman Dean Allara sold 10,877 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $5,505,150.63. This represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Katherine Elsnab sold 3,078 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $25,516.62. Following the transaction, the chief financial officer now directly owns 303,937 shares in the company, valued at $2,519,637.73. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 145,187 shares of company stock valued at $1,204,966. Corporate insiders own 73.00% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC acquired a new position in Bridge Investment Group during the 4th quarter valued at about $89,000. Aquatic Capital Management LLC acquired a new position in Bridge Investment Group during the 4th quarter valued at about $95,000. Jane Street Group LLC acquired a new position 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 in the third quarter valued at about $110,000. Finally, XTX Topco Ltd acquired a new position in shares of Bridge Investment Group in the third quarter valued at about $127,000. 52.83% of the stock is owned by institutional investors and hedge funds.
Bridge Investment Group Stock Up 1.0 %
The business has a fifty day moving average price of $8.21 and a two-hundred day moving average price of $9.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 262.32 and a beta of 1.56.
Bridge Investment Group Company Profile
(
Get Free Report)
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.
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