Dean Allara Sells 10,877 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Vice Chairman Dean Allara sold 10,877 shares of Bridge Investment Group stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $90,387.87. Following the transaction, the insider now owns 662,473 shares in the company, valued at approximately $5,505,150.63. The trade was a 1.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Dean Allara also recently made the following trade(s):

• On Thursday, January 2nd, Dean Allara sold 10,438 shares of Bridge Investment Group stock. The stock was sold at an average price of $8.29, for a total value of $86,531.02.

Bridge Investment Group Price Performance

BRDG stock opened at $8.27 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $1.00 billion, a PE ratio of 206.80 and a beta of 1.57. Bridge Investment Group Holdings Inc. has a 12-month low of $6.18 and a 12-month high of $11.69. The business’s fifty day moving average price is $9.49 and its 200 day moving average price is $8.89.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $101.51 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $0.22 EPS. On average, sell-side analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.40 annualized dividend and a dividend yield of 4.84%. Bridge Investment Group’s dividend payout ratio is presently 1,000.00%.

Institutional Investors Weigh In On Bridge Investment Group

Several institutional investors and hedge funds have recently modified their holdings of BRDG. FMR LLC grew its stake in Bridge Investment Group by 288.0% during the 3rd quarter. FMR LLC now owns 1,509,690 shares of the company’s stock worth $14,901,000 after purchasing an additional 1,120,549 shares in the last quarter. Jennison Associates LLC grew its stake in 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 purchasing an additional 74,779 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Bridge Investment Group during the 3rd quarter worth $638,000. Quest Partners LLC acquired a new position in Bridge Investment Group during the 3rd quarter worth $448,000. Finally, Geode Capital Management LLC grew its stake in Bridge Investment Group by 11.2% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Wall Street Analysts Forecast Growth

BRDG has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. UBS Group lifted their target price on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen reduced their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Finally, Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.