Bridge Investment Group (NYSE:BRDG) Shares Gap Down After Insider Selling

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report)'s share price gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $8.30, but opened at $8.10. Bridge Investment Group shares last traded at $7.81, with a volume of 104,582 shares traded.

Specifically, CEO Jonathan Slager sold 11,403 shares of Bridge Investment Group stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 962,481 shares in the company, valued at $7,978,967.49. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam O'farrell sold 6,935 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $57,629.85. Following the transaction, the chief operating officer now owns 538,038 shares in the company, valued at $4,471,095.78. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In other Bridge Investment Group news, COO Adam O'farrell sold 6,655 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 transaction of $55,169.95. Following the transaction, the chief operating officer now directly owns 551,512 shares of the company's stock, valued at $4,572,034.48. This represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BRDG. JPMorgan Chase & Co. reissued a "neutral" rating and set a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday. Wells Fargo & Company increased their price target on Bridge Investment Group from $11.00 to $11.50 and gave the company an "overweight" rating in a report on Wednesday, October 9th. UBS Group boosted their price objective on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. TD Cowen dropped their target price on shares of Bridge Investment Group from $10.50 to $10.00 and set a "hold" rating on the stock in a report on Tuesday, November 12th. Finally, Morgan Stanley lowered shares of Bridge Investment Group from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $14.00 to $11.00 in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.70.

Bridge Investment Group Stock Down 10.0 %

The firm's 50-day simple moving average is $9.49 and its 200-day simple moving average is $8.89. 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 company has a market capitalization of $904.50 million, a price-to-earnings ratio of 186.80 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last issued its quarterly earnings results 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). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The firm had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. Sell-side analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The firm also recently declared 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. The ex-dividend date was Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 5.35%. Bridge Investment Group's dividend payout ratio is currently 1,000.00%.

Institutional Investors Weigh In On Bridge Investment Group

Several institutional investors and hedge funds have recently bought and sold shares of BRDG. Jennison Associates LLC lifted its position in shares of Bridge Investment Group by 2.3% during 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 period. Bank of New York Mellon Corp lifted its holdings 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 during the period. XTX Topco Ltd acquired a new stake in shares of Bridge Investment Group in the 3rd quarter valued at $127,000. Geode Capital Management LLC grew its holdings in shares of Bridge Investment Group by 11.2% in the 3rd 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. Finally, State Street Corp increased its position in shares of Bridge Investment Group by 12.0% during the 3rd quarter. State Street Corp now owns 128,711 shares of the company's stock worth $1,270,000 after purchasing an additional 13,800 shares in the last quarter. Institutional investors own 52.83% of the company's stock.

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.