Marshall Wace LLP Acquires 20,726 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Marshall Wace LLP grew its stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 22.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,769 shares of the company’s stock after acquiring an additional 20,726 shares during the period. Marshall Wace LLP owned 0.09% of Bridge Investment Group worth $852,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP bought a new position in Bridge Investment Group in the fourth quarter valued at approximately $37,000. Quadrature Capital Ltd acquired a new position in Bridge Investment Group during the fourth quarter worth $460,000. Jennison Associates LLC raised its position in Bridge Investment Group by 6.8% during the first quarter. Jennison Associates LLC now owns 3,261,218 shares of the company’s stock worth $22,339,000 after acquiring an additional 206,840 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in Bridge Investment Group by 23.4% in the first quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after acquiring an additional 4,035 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Bridge Investment Group by 0.8% in the first quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock valued at $5,898,000 after acquiring an additional 6,851 shares during the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

Analysts Set New Price Targets

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

Bridge Investment Group Stock Down 1.1 %

BRDG 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 stock’s fifty day simple moving average is $8.44 and its 200 day simple moving average is $7.70. Bridge Investment Group Holdings Inc. has a 1-year low of $6.18 and a 1-year high of $10.15. The stock has a market cap of $1.16 billion, a PE ratio of -39.92 and a beta of 1.65.

Bridge Investment Group (NYSE:BRDG) last posted its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. The company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $79.05 million. During the same quarter last year, the company posted $0.20 EPS. As a group, research analysts expect that Bridge Investment Group Holdings Inc. will post 0.77 earnings per share for the current year.

Bridge Investment Group Increases Dividend

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

Insider Buying and Selling

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 25,971 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total transaction of $208,547.13. Following the transaction, the chairman now owns 2,554,419 shares in the company, valued at $20,511,984.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jonathan Slager sold 6,409 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 $51,464.27. Following the completion of the sale, the chief executive officer now directly owns 773,884 shares in the company, valued at approximately $6,214,288.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Robert Randolph Morse sold 25,971 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $8.03, for a total value of $208,547.13. Following the sale, the chairman now directly owns 2,554,419 shares in the company, valued at $20,511,984.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,366 shares of company stock valued at $687,133. Insiders own 65.90% 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.