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

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 428,600 shares, an increase of 21.8% from the December 31st total of 351,900 shares. Based on an average trading volume of 240,700 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.2% of the shares of the stock are sold short.

Insider Transactions at Bridge Investment Group

In other news, Chairman Robert Randolph Morse sold 47,252 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 value of $392,664.12. Following the transaction, the chairman now owns 3,157,271 shares of the company's stock, valued at approximately $26,236,922.01. This trade represents a 1.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Dean Allara sold 10,877 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 $90,387.87. Following the completion of the transaction, the insider now directly owns 662,473 shares in the company, valued at approximately $5,505,150.63. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,187 shares of company stock valued at $1,204,966 over the last three months. 73.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bridge Investment Group

Several large investors have recently modified their holdings of the stock. Jennison Associates LLC boosted its stake in shares of Bridge Investment Group by 0.9% during the 4th quarter. Jennison Associates LLC now owns 3,402,475 shares of the company's stock worth $28,581,000 after acquiring an additional 31,593 shares in the last quarter. FMR LLC boosted its stake in shares of Bridge Investment Group by 288.0% during the 3rd 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 in the last quarter. Franklin Resources Inc. boosted its stake in shares of Bridge Investment Group by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company's stock worth $13,383,000 after acquiring an additional 14,235 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Bridge Investment Group by 1.2% during the 3rd quarter. Royce & Associates LP now owns 773,230 shares of the company's stock worth $7,632,000 after acquiring an additional 8,909 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Bridge Investment Group by 11.2% in the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company's stock valued at $4,026,000 after purchasing an additional 40,975 shares in the last quarter. 52.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BRDG. Morgan Stanley downgraded shares of Bridge Investment Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $14.00 to $11.00 in a research note on Friday, November 8th. Wells Fargo & Company dropped their price target on shares of Bridge Investment Group from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 14th. TD Cowen dropped 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 note on Tuesday, November 12th. UBS Group lifted 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 note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $10.00 price target (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Bridge Investment Group presently has a consensus rating of "Hold" and an average price target of $10.40.

Bridge Investment Group Price Performance

NYSE BRDG traded up $0.02 on Tuesday, reaching $7.94. 59,890 shares of the stock traded hands, compared to its average volume of 202,468. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The company has a market cap of $960.77 million, a price-to-earnings ratio of 198.17 and a beta of 1.56. The firm's fifty day simple moving average is $8.53 and its 200 day simple moving average is $8.91. Bridge Investment Group has a 12 month low of $6.18 and a 12 month high of $11.69.

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 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 during the quarter, compared to analyst estimates of $85.00 million. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, research analysts predict that Bridge Investment Group 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. Stockholders of record on Friday, December 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.04%. The ex-dividend date was Friday, December 6th. Bridge Investment Group's dividend payout ratio is presently 1,000.25%.

Bridge Investment Group Company Profile

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.