Bridge Investment Group Holdings Inc. (NYSE:BRDG) Sees Large Decrease in Short Interest

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 255,500 shares, a decrease of 19.7% from the March 15th total of 318,200 shares. Based on an average daily volume of 421,700 shares, the short-interest ratio is currently 0.6 days. Approximately 0.7% of the company's shares are short sold.

Bridge Investment Group Trading Up 2.6 %

Shares of BRDG traded up $0.23 during mid-day trading on Wednesday, hitting $8.90. The company had a trading volume of 101,795 shares, compared to its average volume of 386,051. Bridge Investment Group has a 1-year low of $6.50 and a 1-year high of $11.69. The business's 50-day simple moving average is $9.22 and its 200-day simple moving average is $9.17. The stock has a market cap of $1.10 billion, a PE ratio of 222.53 and a beta of 1.46. 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 quarterly earnings results on Monday, February 24th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The company had revenue of $81.96 million for the quarter, compared to analyst estimates of $82.02 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. Sell-side analysts forecast that Bridge Investment Group will post 0.68 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Friday, March 14th. This is an increase from Bridge Investment Group's previous quarterly dividend of $0.10. Bridge Investment Group's payout ratio is 488.89%.

Hedge Funds Weigh In On Bridge Investment Group

A number of large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in Bridge Investment Group during the 1st quarter worth approximately $400,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Bridge Investment Group during the first quarter worth approximately $63,000. DigitalBridge Group Inc. increased its position in shares of Bridge Investment Group by 24.4% in the fourth quarter. DigitalBridge Group Inc. now owns 508,035 shares of the company's stock worth $4,267,000 after acquiring an additional 99,520 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Bridge Investment Group in the 4th quarter valued at $89,000. Finally, Northern Trust Corp raised its stake in shares of Bridge Investment Group by 19.2% in the 4th quarter. Northern Trust Corp now owns 89,937 shares of the company's stock valued at $755,000 after acquiring an additional 14,481 shares during the period. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BRDG has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Bridge Investment Group from $7.50 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Finally, 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 note on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $10.40.

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.