Bridge Investment Group (NYSE:BRDG) Sees Unusually-High Trading Volume on Earnings Beat

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 695,335 shares changed hands during trading, an increase of 159% from the previous session’s volume of 268,140 shares.The stock last traded at $10.26 and had previously closed at $10.60.

The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $81.96 million during the quarter, compared to the consensus estimate of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%.

Wall Street Analysts Forecast Growth

BRDG has been the subject of several recent research reports. TD Cowen reduced their target price on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Wells Fargo & Company cut their target price on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.40.

Insider Transactions at Bridge Investment Group

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 47,252 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $392,664.12. Following the transaction, the chairman now owns 3,157,271 shares in the company, valued at $26,236,922.01. This trade represents a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Slager sold 11,403 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $94,530.87. Following the sale, the chief executive officer now owns 962,481 shares of the company’s stock, valued at approximately $7,978,967.49. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,187 shares of company stock valued at $1,204,966. 73.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Bridge Investment Group by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 3,481,145 shares of the company’s stock worth $29,242,000 after acquiring an additional 208,022 shares during the period. Jennison Associates LLC raised its position in Bridge Investment Group by 0.9% during the fourth quarter. Jennison Associates LLC now owns 3,402,475 shares of the company’s stock valued at $28,581,000 after purchasing an additional 31,593 shares in the last quarter. FMR LLC lifted its stake in Bridge Investment Group by 288.0% during the third quarter. FMR LLC now owns 1,509,690 shares of the company’s stock worth $14,901,000 after purchasing an additional 1,120,549 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Bridge Investment Group by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 1,295,065 shares of the company’s stock valued at $10,879,000 after purchasing an additional 8,218 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Bridge Investment Group by 29.3% in the 4th quarter. Royce & Associates LP now owns 999,626 shares of the company’s stock valued at $8,397,000 after purchasing an additional 226,396 shares during the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

Bridge Investment Group Price Performance

The business has a fifty day moving average price of $8.07 and a 200 day moving average price of $8.94. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 256.56 and a beta of 1.56. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14.

About Bridge Investment Group

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.