Raymond James & Associates Invests $153,000 in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Raymond James & Associates bought a new position in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,487 shares of the company’s stock, valued at approximately $153,000.

A number of other large investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Bridge Investment Group by 2.5% during the first quarter. EverSource Wealth Advisors LLC now owns 227,807 shares of the company’s stock worth $2,581,000 after buying an additional 5,590 shares during the last quarter. New York Life Investment Management LLC bought a new stake in shares of Bridge Investment Group during the first quarter worth approximately $462,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Bridge Investment Group during the first quarter worth approximately $631,000. JPMorgan Chase & Co. bought a new stake in shares of Bridge Investment Group during the fourth quarter worth approximately $165,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Bridge Investment Group during the first quarter worth approximately $152,000. 58.41% of the stock is currently owned by institutional investors and hedge funds.

Bridge Investment Group Stock Down 1.9 %

Shares of NYSE:BRDG opened at $7.59 on Tuesday. Bridge Investment Group Holdings Inc. has a 52 week low of $6.99 and a 52 week high of $16.07. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $259.73 million, a PE ratio of -26.17 and a beta of 1.79. The company has a 50 day moving average price of $8.69 and a two-hundred day moving average price of $10.05.

Bridge Investment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 8.96%. The ex-dividend date of this dividend is Thursday, November 30th. Bridge Investment Group’s dividend payout ratio is -234.48%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BRDG shares. Morgan Stanley dropped their price target on shares of Bridge Investment Group from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, October 18th. JPMorgan Chase & Co. lowered their target price on shares of Bridge Investment Group from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.92.

Bridge Investment Group 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.