Vanguard Group Inc. Acquires 30,787 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Vanguard Group Inc. boosted its holdings in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,619,156 shares of the company’s stock after acquiring an additional 30,787 shares during the period. Vanguard Group Inc. owned approximately 7.65% of Bridge Investment Group worth $24,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors lifted its holdings in shares of Bridge Investment Group by 89.7% in the first quarter. Captrust Financial Advisors now owns 1,231 shares of the company’s stock valued at $25,000 after purchasing an additional 582 shares in the last quarter. State of Wyoming bought a new stake in shares of Bridge Investment Group in the second quarter valued at about $28,000. Royal Bank of Canada lifted its holdings in shares of Bridge Investment Group by 126.3% in the third quarter. Royal Bank of Canada now owns 3,591 shares of the company’s stock valued at $52,000 after purchasing an additional 2,004 shares in the last quarter. Pathstone Family Office LLC lifted its holdings in shares of Bridge Investment Group by 20.8% in the fourth quarter. Pathstone Family Office LLC now owns 12,132 shares of the company’s stock valued at $59,000 after purchasing an additional 2,088 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Bridge Investment Group by 44.6% in the third quarter. UBS Group AG now owns 8,364 shares of the company’s stock valued at $77,000 after purchasing an additional 2,579 shares in the last quarter. 52.83% of the stock is currently owned by institutional investors.

Bridge Investment Group Price Performance

Shares of NYSE BRDG opened at $6.90 on Friday. The business’s 50 day moving average price is $7.37 and its two-hundred day moving average price is $8.15. The company has a market cap of $835.38 million, a PE ratio of -15.33 and a beta of 1.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.82. Bridge Investment Group Holdings Inc. has a twelve month low of $6.18 and a twelve month high of $13.07.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The business had revenue of $70.52 million for the quarter, compared to analyst estimates of $78.55 million. Bridge Investment Group had a positive return on equity of 9.14% and a negative net margin of 1.73%. On average, analysts predict that Bridge Investment Group Holdings Inc. will post 0.78 EPS for the current year.

Bridge Investment Group Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.