Bridge Investment Group (NYSE:BRDG) Shares Gap Down on Insider Selling

Bridge Investment Group Holdings Inc. (NYSE:BRDG)’s stock price gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $8.30, but opened at $8.10. Bridge Investment Group shares last traded at $7.81, with a volume of 104,582 shares.

Specifically, CEO Jonathan Slager sold 11,403 shares of Bridge Investment Group stock in a transaction dated 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 $7,978,967.49. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Adam O’farrell sold 6,935 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $57,629.85. Following the transaction, the chief operating officer now directly owns 538,038 shares of the company’s stock, valued at $4,471,095.78. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Bridge Investment Group news, COO Adam O’farrell sold 6,655 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 $55,169.95. Following the transaction, the chief operating officer now owns 551,512 shares in the company, valued at approximately $4,572,034.48. The trade was a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

BRDG has been the topic of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Bridge Investment Group in a research note on Tuesday. Wells Fargo & Company increased their price target on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Morgan Stanley downgraded 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. UBS Group lifted their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen lowered their price target on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.70.

Bridge Investment Group Stock Down 10.0 %

The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. The firm’s 50-day moving average price is $9.43 and its 200 day moving average price is $8.89. The firm has a market capitalization of $904.50 million, a price-to-earnings ratio of 186.80 and a beta of 1.57.

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). The company had revenue of $101.51 million for the quarter, compared to analysts’ expectations of $85.00 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. During the same period in the previous year, the business posted $0.22 EPS. Sell-side analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.10 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 5.35%. Bridge Investment Group’s dividend payout ratio (DPR) is 1,000.00%.

Institutional Investors Weigh In On Bridge Investment Group

A number of hedge funds and other institutional investors have recently modified their holdings of BRDG. Jennison Associates LLC lifted its holdings in shares of Bridge Investment Group by 2.3% during the 3rd quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock worth $33,271,000 after acquiring an additional 74,779 shares during the period. Bank of New York Mellon Corp raised its stake in Bridge Investment Group by 3.2% during 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 during the period. Geode Capital Management LLC raised its stake in Bridge Investment Group by 11.2% during the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after purchasing an additional 40,975 shares during the period. XTX Topco Ltd acquired a new position in shares of Bridge Investment Group in the 3rd quarter valued at $127,000. Finally, State Street Corp grew its stake in shares of Bridge Investment Group by 12.0% during the 3rd quarter. State Street Corp now owns 128,711 shares of the company’s stock valued at $1,270,000 after buying an additional 13,800 shares during the period. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

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.