Jane Street Group LLC Makes New Investment in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Jane Street Group LLC bought a new stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,327 shares of the company’s stock, valued at approximately $102,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BRDG. Quarry LP increased its stake in Bridge Investment Group by 22.5% in the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after purchasing an additional 1,535 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Bridge Investment Group in the third quarter valued at $110,000. Bank of New York Mellon Corp raised its stake in shares of Bridge Investment Group by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after buying an additional 1,735 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Bridge Investment Group in the 3rd quarter worth about $448,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Bridge Investment Group in the 3rd quarter valued at about $638,000. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. TD Cowen cut 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 report on Tuesday, November 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. UBS Group increased their target price on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Finally, Wells Fargo & Company dropped their price objective on Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday. 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, the stock has a consensus rating of “Hold” and a consensus price target of $10.40.

Bridge Investment Group Price Performance

BRDG stock opened at $7.26 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The stock’s 50 day moving average is $9.09 and its two-hundred day moving average is $8.90. Bridge Investment Group Holdings Inc. has a 52-week low of $6.18 and a 52-week high of $11.69. The company has a market capitalization of $879.07 million, a PE ratio of 181.55 and a beta of 1.57.

Bridge Investment Group (NYSE:BRDG) last posted its 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). The company had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. During the same period last year, the company posted $0.22 earnings per share. Analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is presently 1,000.00%.

Insider Activity

In other news, CFO Katherine Elsnab sold 3,078 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $25,516.62. Following the completion of the sale, the chief financial officer now owns 303,937 shares in the company, valued at $2,519,637.73. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Adam O’farrell sold 6,655 shares of the 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 completion of the sale, the chief operating officer now owns 551,512 shares of the company’s stock, valued at approximately $4,572,034.48. The trade was a 1.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 145,187 shares of company stock worth $1,204,966 over the last 90 days. 65.90% of the stock is currently owned by company insiders.

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.