Bank of New York Mellon Corp Boosts Stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Bank of New York Mellon Corp boosted its stake in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,328 shares of the company’s stock after buying an additional 1,735 shares during the period. Bank of New York Mellon Corp’s holdings in Bridge Investment Group were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Bridge Investment Group during the 4th quarter valued at $37,000. Albion Financial Group UT purchased a new stake in shares of Bridge Investment Group during the 2nd quarter valued at $37,000. HBK Sorce Advisory LLC lifted its holdings in shares of Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after purchasing an additional 4,035 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Bridge Investment Group during the 4th quarter valued at $460,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Bridge Investment Group during the 4th quarter valued at $586,000. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Bridge Investment Group Trading Up 2.6 %

Shares of Bridge Investment Group stock opened at $9.59 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85. The firm’s 50-day moving average price is $8.14 and its 200 day moving average price is $7.49. Bridge Investment Group Holdings Inc. has a twelve month low of $6.18 and a twelve month high of $10.15. The firm has a market capitalization of $1.16 billion, a PE ratio of -39.96 and a beta of 1.63.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $104.76 million for the quarter, compared to analyst estimates of $79.05 million. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. During the same period last year, the company posted $0.20 EPS. On average, sell-side analysts predict that Bridge Investment Group Holdings Inc. will post 0.77 EPS for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.12. Bridge Investment Group’s dividend payout ratio (DPR) is -216.67%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company began coverage on Bridge Investment Group in a report on Thursday, September 12th. They set an “overweight” rating and a $11.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Bridge Investment Group presently has an average rating of “Moderate Buy” and an average target price of $10.40.

Insider Activity at Bridge Investment Group

In related news, COO Adam O’farrell sold 3,770 shares of Bridge Investment Group stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total value of $30,273.10. Following the completion of the sale, the chief operating officer now owns 448,167 shares in the company, valued at approximately $3,598,781.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jonathan Slager sold 6,371 shares of Bridge Investment Group stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $8.26, for a total transaction of $52,624.46. Following the completion of the sale, the chief executive officer now directly owns 786,373 shares of the company’s stock, valued at approximately $6,495,440.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Adam O’farrell sold 3,770 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total transaction of $30,273.10. Following the completion of the sale, the chief operating officer now directly owns 448,167 shares of the company’s stock, valued at $3,598,781.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,366 shares of company stock worth $687,133. Insiders own 65.90% of the company’s stock.

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.