Y Intercept Hong Kong Ltd Purchases Shares of 26,296 Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Y Intercept Hong Kong Ltd bought a new position in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,296 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC raised its position in Bridge Investment Group by 0.9% during the 4th quarter. Jennison Associates LLC now owns 3,402,475 shares of the company’s stock worth $28,581,000 after buying an additional 31,593 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Bridge Investment Group by 1.1% during the third quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock worth $13,383,000 after purchasing an additional 14,235 shares during the last quarter. Geode Capital Management LLC lifted its position 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 valued at $4,026,000 after purchasing an additional 40,975 shares during the period. XTX Topco Ltd purchased a new stake in Bridge Investment Group in the third quarter valued at $127,000. Finally, Jane Street Group LLC acquired a new stake in Bridge Investment Group during the 3rd quarter worth about $102,000. Institutional investors and hedge funds own 52.83% of the company’s stock.

Insider Buying and Selling at Bridge Investment Group

In other Bridge Investment Group news, CEO Jonathan Slager sold 11,403 shares of the 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 completion of the sale, the chief executive officer now owns 962,481 shares in the company, valued at approximately $7,978,967.49. This represents a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Dean Allara sold 10,438 shares of the firm’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 $86,531.02. Following the completion of the transaction, the insider now directly owns 683,606 shares in the company, valued at $5,667,093.74. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,187 shares of company stock valued at $1,204,966 over the last quarter. 65.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BRDG has been the subject of several analyst reports. Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $14.00 to $11.00 in a report on Friday, November 8th. Wells Fargo & Company lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $10.00 to $11.50 in a research report on Thursday, February 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. 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. Finally, UBS Group raised their price target on shares of Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.90.

Bridge Investment Group Trading Down 4.2 %

Shares of BRDG stock opened at $9.75 on Wednesday. The stock has a 50 day simple moving average of $8.27 and a 200-day simple moving average of $9.05. Bridge Investment Group Holdings Inc. has a 1-year low of $6.18 and a 1-year high of $11.69. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 243.69 and a beta of 1.55. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $81.96 million for the quarter, compared to the consensus estimate of $82.02 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. On average, equities research analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.52%. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, March 14th. Bridge Investment Group’s payout ratio is presently 488.89%.

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.