Bridge Investment Group (NYSE:BRDG) Sees Large Volume Increase - Here's Why

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 373,307 shares changed hands during mid-day trading, an increase of 105% from the previous session's volume of 182,073 shares.The stock last traded at $8.37 and had previously closed at $8.25.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BRDG. UBS Group upped their target price on Bridge Investment Group from $7.00 to $11.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. TD Cowen reduced their price target on shares of Bridge Investment Group from $10.50 to $10.00 and set a "hold" rating on the stock in a research report on Tuesday, November 12th. Finally, Morgan Stanley downgraded shares of Bridge Investment Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $11.00.

Bridge Investment Group Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. The stock's 50-day moving average price is $9.49 and its two-hundred day moving average price is $8.89. The stock has a market capitalization of $1.00 billion, a PE ratio of 206.80 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.03). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The business had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. During the same period in the prior year, the business posted $0.22 EPS. As a group, analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date was Friday, December 6th. Bridge Investment Group's payout ratio is 1,000.00%.

Insider Transactions at Bridge Investment Group

In related news, COO Adam O'farrell sold 6,935 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $57,629.85. Following the completion of the transaction, the chief operating officer now directly owns 538,038 shares in the company, valued at $4,471,095.78. The trade was a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Slager sold 11,403 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $94,530.87. Following the sale, the chief executive officer now owns 962,481 shares in the company, valued at approximately $7,978,967.49. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,187 shares of company stock valued at $1,204,966. Insiders own 65.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BRDG. Jennison Associates LLC raised its position in Bridge Investment Group by 2.3% in the 3rd quarter. Jennison Associates LLC now owns 3,370,882 shares of the company's stock worth $33,271,000 after buying an additional 74,779 shares during the last quarter. FMR LLC grew its stake in shares of Bridge Investment Group by 288.0% in the third quarter. FMR LLC now owns 1,509,690 shares of the company's stock worth $14,901,000 after acquiring an additional 1,120,549 shares during the period. Franklin Resources Inc. raised its holdings in shares of Bridge Investment Group by 1.1% during the third quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company's stock valued at $13,383,000 after purchasing an additional 14,235 shares during the last quarter. Royce & Associates LP lifted its position in Bridge Investment Group by 1.2% during the third 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 period. Finally, Geode Capital Management LLC boosted 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 worth $4,026,000 after purchasing an additional 40,975 shares during the last quarter. 52.83% of the stock is owned by 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.