Bridge Investment Group (NYSE:BRDG) Sees Unusually-High Trading Volume After Dividend Announcement

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw strong trading volume on Tuesday following a dividend announcement from the company. 1,782,080 shares changed hands during mid-day trading, an increase of 351% from the previous session’s volume of 394,763 shares.The stock last traded at $10.36 and had previously closed at $10.04.

The newly announced dividend which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a dividend yield of 179.0%. Bridge Investment Group’s payout ratio is presently -104.76%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company boosted their price target on shares of Bridge Investment Group from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Bridge Investment Group has an average rating of “Hold” and an average price target of $10.70.

Bridge Investment Group Trading Up 1.8%

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.10 and a quick ratio of 1.08. The stock has a market capitalization of $1.27 billion, a PE ratio of -24.35 and a beta of 1.41. The stock’s 50 day simple moving average is $10.04 and its two-hundred day simple moving average is $9.43.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Thursday, August 7th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.08). The company had revenue of $73.23 million during the quarter, compared to analysts’ expectations of $75.50 million. Bridge Investment Group had a negative net margin of 3.03% and a positive return on equity of 8.42%. On average, sell-side analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Insider Activity at Bridge Investment Group

In other Bridge Investment Group news, CEO Jonathan Slager sold 9,562 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total value of $101,835.30. Following the transaction, the chief executive officer directly owned 912,067 shares in the company, valued at $9,713,513.55. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam O’farrell sold 3,817 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total transaction of $40,651.05. Following the completion of the transaction, the chief operating officer owned 527,129 shares in the company, valued at approximately $5,613,923.85. The trade was a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,949 shares of company stock valued at $1,458,376 in the last three months. Insiders own 73.00% of the company’s stock.

Institutional Trading of Bridge Investment Group

Several hedge funds and other institutional investors have recently modified their holdings of BRDG. AlphaQuest LLC raised its position in shares of Bridge Investment Group by 107.1% in the first quarter. AlphaQuest LLC now owns 5,290 shares of the company’s stock valued at $51,000 after purchasing an additional 2,736 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Bridge Investment Group in the first quarter valued at approximately $63,000. EP Wealth Advisors LLC bought a new stake in shares of Bridge Investment Group in the fourth quarter valued at approximately $89,000. Aquatic Capital Management LLC bought a new stake in shares of Bridge Investment Group in the fourth quarter valued at approximately $95,000. Finally, Raymond James Financial Inc. bought a new stake in Bridge Investment Group during the 4th quarter worth approximately $168,000. Institutional investors own 52.83% of the company’s stock.

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.