Bridge Investment Group Holdings Inc. (NYSE:BRDG) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 11.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 407,709 shares of the company’s stock after acquiring an additional 40,975 shares during the quarter. Geode Capital Management LLC owned about 0.34% of Bridge Investment Group worth $4,026,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quarry LP lifted its holdings in Bridge Investment Group by 22.5% in the second quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after acquiring an additional 1,535 shares during the last quarter. Bank of New York Mellon Corp raised its position in 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 valued at $411,000 after purchasing an additional 1,735 shares during the period. Royce & Associates LP lifted its stake in shares of Bridge Investment Group by 1.2% in the 3rd quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock valued at $7,632,000 after purchasing an additional 8,909 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Bridge Investment Group during the 3rd quarter worth $102,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Bridge Investment Group during the 3rd quarter worth about $110,000. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Bridge Investment Group Trading Up 0.7 %

NYSE BRDG opened at $8.25 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $998.94 million, a price-to-earnings ratio of 206.30 and a beta of 1.54. The firm has a 50 day simple moving average of $9.54 and a 200-day simple moving average of $8.88. Bridge Investment Group Holdings Inc. has a one year low of $6.18 and a one year high of $11.69.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The business had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. During the same period in the prior year, the business earned $0.22 EPS. Equities research analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal 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 paid 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 4.85%. Bridge Investment Group’s payout ratio is 1,000.00%.

Analyst Ratings Changes

A number of research firms have commented on BRDG. Wells Fargo & Company upped their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $14.00 to $11.00 in a report on Friday, November 8th. TD Cowen dropped 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. Finally, UBS Group upped their price target on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Bridge Investment Group presently has an average rating of “Hold” and a consensus price target of $11.00.

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.