Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Up 33.9% in March

Bridge Investment Group Holdings Inc. (NYSE:BRDGGet Rating) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 674,900 shares, an increase of 33.9% from the March 15th total of 504,000 shares. Based on an average daily volume of 154,900 shares, the short-interest ratio is presently 4.4 days. Currently, 2.6% of the shares of the company are sold short.

Bridge Investment Group stock opened at $19.00 on Monday. The company’s 50-day moving average price is $19.93. Bridge Investment Group has a 52-week low of $14.05 and a 52-week high of $25.61. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.27.

Bridge Investment Group (NYSE:BRDGGet Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.01). Bridge Investment Group had a net margin of 41.64% and a return on equity of 17.23%. The company had revenue of $107.32 million for the quarter, compared to the consensus estimate of $72.80 million. On average, sell-side analysts expect that Bridge Investment Group will post 1.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 11th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, March 10th. This represents a $0.84 annualized dividend and a yield of 4.42%.

A number of large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC purchased a new stake in shares of Bridge Investment Group during the 3rd quarter worth $32,457,000. Franklin Resources Inc. acquired a new stake in Bridge Investment Group during the third quarter worth about $29,577,000. Conversant Capital LLC acquired a new stake in Bridge Investment Group during the fourth quarter worth about $30,463,000. Morgan Stanley acquired a new stake in Bridge Investment Group in the third quarter valued at approximately $14,000,000. Finally, Millennium Management LLC acquired a new stake in Bridge Investment Group in the third quarter valued at approximately $9,628,000. Institutional investors own 65.28% of the company’s stock.

BRDG has been the subject of a number of recent analyst reports. Citigroup reduced their price target on shares of Bridge Investment Group from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, April 12th. Zacks Investment Research cut shares of Bridge Investment Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $21.00.

Bridge Investment Group Company Profile (Get Rating)

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.

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