Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse Sells 45,343 Shares

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Chairman Robert Randolph Morse sold 45,343 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $375,893.47. Following the completion of the transaction, the chairman now owns 3,249,076 shares of the company’s stock, valued at approximately $26,934,840.04. The trade was a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Robert Randolph Morse also recently made the following trade(s):

• On Monday, January 6th, Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock. The stock was sold at an average price of $8.31, for a total value of $392,664.12.

Bridge Investment Group Price Performance

NYSE BRDG opened at $7.47 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $904.50 million, a P/E ratio of 186.80 and a beta of 1.57. The company has a 50-day moving average price of $9.43 and a 200-day moving average price of $8.89. Bridge Investment Group Holdings Inc. has a 52 week low of $6.18 and a 52 week high of $11.69.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The business had revenue of $101.51 million during the quarter, compared to the consensus estimate of $85.00 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. Equities research analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.40 annualized dividend and a yield of 5.35%. Bridge Investment Group’s dividend payout ratio (DPR) is presently 1,000.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $14.00 to $11.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday. UBS Group boosted their price objective on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, TD Cowen decreased 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 research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Bridge Investment Group has a consensus rating of “Hold” and an average target price of $10.70.

Institutional Trading of Bridge Investment Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP lifted its position in shares of Bridge Investment Group by 22.5% during the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after buying an additional 1,535 shares in the last quarter. Jane Street Group LLC bought a new stake in Bridge Investment Group during the 3rd quarter worth approximately $102,000. Paloma Partners Management Co purchased a new position in Bridge Investment Group during the third quarter valued at approximately $110,000. XTX Topco Ltd bought a new position in shares of Bridge Investment Group in the third quarter worth approximately $127,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Bridge Investment Group by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after purchasing an additional 1,735 shares in the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

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.