Bridge Investment Group (NYSE:BRDG) Shares Up 3.4%

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shares shot up 3.4% during trading on Friday . The company traded as high as $6.93 and last traded at $6.93. 109,503 shares were traded during trading, a decline of 63% from the average session volume of 297,441 shares. The stock had previously closed at $6.70.

Analyst Ratings Changes

A number of research firms recently commented on BRDG. Wells Fargo & Company decreased their price objective on Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Morgan Stanley reduced their target price on Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, February 26th. TD Cowen assumed coverage on Bridge Investment Group in a research report on Thursday, January 4th. They set an “outperform” rating and a $11.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Finally, UBS Group reduced their target price on Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating on the stock in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Bridge Investment Group presently has a consensus rating of “Moderate Buy” and an average target price of $10.67.

Bridge Investment Group Trading Up 3.0 %

The business has a fifty day moving average price of $7.37 and a 200 day moving average price of $8.15. The company has a market capitalization of $835.38 million, a PE ratio of -15.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.00 and a current ratio of 1.00.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The firm had revenue of $70.52 million during the quarter, compared to analysts’ expectations of $78.55 million. Bridge Investment Group had a positive return on equity of 9.14% and a negative net margin of 1.73%. Analysts expect that Bridge Investment Group Holdings Inc. will post 0.78 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.07 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.06%. Bridge Investment Group’s dividend payout ratio (DPR) is -62.22%.

Institutional Investors Weigh In On Bridge Investment Group

Several hedge funds have recently modified their holdings of the stock. Jennison Associates LLC raised its holdings in shares of Bridge Investment Group by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 3,083,410 shares of the company’s stock valued at $28,367,000 after buying an additional 115,347 shares during the period. Vanguard Group Inc. raised its holdings in shares of Bridge Investment Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 2,662,939 shares of the company’s stock valued at $26,044,000 after buying an additional 43,783 shares during the period. Burgundy Asset Management Ltd. raised its holdings in shares of Bridge Investment Group by 1.6% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,353,336 shares of the company’s stock valued at $21,651,000 after buying an additional 36,193 shares during the period. Morgan Stanley raised its holdings in shares of Bridge Investment Group by 1.1% during the 4th quarter. Morgan Stanley now owns 1,924,922 shares of the company’s stock valued at $23,195,000 after buying an additional 20,705 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings in shares of Bridge Investment Group by 2.5% during the 1st quarter. 1832 Asset Management L.P. now owns 1,810,680 shares of the company’s stock valued at $36,346,000 after buying an additional 44,118 shares during the period. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

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.