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

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shares gapped down prior to trading on Tuesday following insider selling activity. 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 the stock in a transaction that occurred on 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 of the company’s stock, valued at $7,978,967.49. This trade represents 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 available through the SEC website. Also, COO Adam O’farrell sold 6,935 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $57,629.85. Following the completion of the transaction, the chief operating officer now owns 538,038 shares of the company’s stock, valued at $4,471,095.78. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, COO Adam O’farrell sold 6,655 shares of Bridge Investment Group stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $55,169.95. Following the sale, the chief operating officer now owns 551,512 shares of the company’s stock, valued at $4,572,034.48. The trade was a 1.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BRDG. TD Cowen lowered their target price on 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday. Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $14.00 to $11.00 in a research report on Friday, November 8th. UBS Group raised their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company upped 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.70.

Bridge Investment Group Trading Down 10.0 %

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 cap of $904.50 million, a price-to-earnings ratio of 186.80 and a beta of 1.57. The firm has a 50-day moving average price of $9.43 and a 200 day moving average price of $8.89.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $101.51 million during the quarter, compared to analyst estimates 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 prior year, the firm earned $0.22 EPS. As a group, sell-side analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s payout ratio is 1,000.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its position in Bridge Investment Group by 2.3% in the third quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock worth $33,271,000 after buying an additional 74,779 shares during the period. Bank of New York Mellon Corp grew its position in shares of 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 acquiring an additional 1,735 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Bridge Investment Group by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after acquiring an additional 40,975 shares during the period. XTX Topco Ltd bought a new stake in Bridge Investment Group in the 3rd quarter valued at about $127,000. Finally, State Street Corp boosted its stake in 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 purchasing an additional 13,800 shares during the period. Institutional investors and hedge funds own 52.83% of the company’s stock.

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.