Bridge Investment Group Holdings Inc. (NYSE:BRDG) Sees Significant Growth in Short Interest

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 567,700 shares, a growth of 23.9% from the September 30th total of 458,100 shares. Approximately 1.5% of the company's stock are short sold. Based on an average daily volume of 200,200 shares, the short-interest ratio is currently 2.8 days.

Institutional Investors Weigh In On Bridge Investment Group

Several hedge funds and other institutional investors have recently bought and sold shares of BRDG. Thornburg Investment Management Inc. boosted its holdings in Bridge Investment Group by 181.2% during the first quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company's stock worth $5,358,000 after buying an additional 504,812 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Bridge Investment Group in the 1st quarter worth $966,000. Bank of New York Mellon Corp boosted its position in shares of Bridge Investment Group by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company's stock valued at $411,000 after purchasing an additional 1,735 shares during the period. Jennison Associates LLC raised its holdings in Bridge Investment Group by 6.8% during the 1st quarter. Jennison Associates LLC now owns 3,261,218 shares of the company's stock worth $22,339,000 after buying an additional 206,840 shares during the period. Finally, Albion Financial Group UT acquired a new position in shares of Bridge Investment Group in the second quarter worth about $37,000. 52.83% of the stock is currently owned by institutional investors.

Bridge Investment Group Stock Performance

Bridge Investment Group stock traded up $0.24 during mid-day trading on Wednesday, hitting $10.90. 101,009 shares of the company's stock traded hands, compared to its average volume of 233,769. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. Bridge Investment Group has a one year low of $6.18 and a one year high of $10.95. The firm has a 50 day moving average price of $9.41 and a 200 day moving average price of $8.15. The company has a market cap of $1.32 billion, a PE ratio of -99.09 and a beta of 1.65.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $104.76 million for the quarter, compared to analysts' expectations of $79.05 million. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. During the same quarter last year, the company earned $0.20 EPS. On average, equities analysts forecast that Bridge Investment Group will post 0.77 EPS for the current year.

Bridge Investment Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.52 annualized dividend and a yield of 4.77%. This is a boost from Bridge Investment Group's previous quarterly dividend of $0.12. Bridge Investment Group's dividend payout ratio (DPR) is currently -472.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group increased their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Morgan Stanley upped their price target on Bridge Investment Group from $11.00 to $14.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Finally, TD Cowen lowered shares of Bridge Investment Group from a "buy" rating to a "hold" rating and increased their price objective for the stock from $10.00 to $10.50 in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Bridge Investment Group presently has an average rating of "Moderate Buy" and an average price target of $11.70.

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.