EverSource Wealth Advisors LLC Has $799,000 Stock Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

EverSource Wealth Advisors LLC trimmed its position in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 58.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,715 shares of the company’s stock after selling 115,015 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Bridge Investment Group were worth $799,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thornburg Investment Management Inc. purchased a new stake in shares of Bridge Investment Group in the fourth quarter worth approximately $2,724,000. Lord Abbett & CO. LLC raised its position in Bridge Investment Group by 24.6% during the third quarter. Lord Abbett & CO. LLC now owns 756,349 shares of the company’s stock valued at $6,958,000 after acquiring an additional 149,400 shares in the last quarter. Trexquant Investment LP bought a new position in Bridge Investment Group during the fourth quarter valued at approximately $1,199,000. Janney Montgomery Scott LLC bought a new position in Bridge Investment Group during the fourth quarter valued at approximately $586,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Bridge Investment Group during the fourth quarter valued at approximately $479,000. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on BRDG. UBS Group cut their price objective on shares of Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Wells Fargo & Company cut their price objective on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Morgan Stanley cut their price objective on shares of Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bridge Investment Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.67.

Bridge Investment Group Stock Performance

BRDG stock traded down $0.01 during midday trading on Thursday, hitting $7.88. 26,336 shares of the company traded hands, compared to its average volume of 266,076. The business has a 50 day simple moving average of $6.87 and a 200-day simple moving average of $7.93. The stock has a market capitalization of $954.03 million, a price-to-earnings ratio of -32.92 and a beta of 1.59. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.89. Bridge Investment Group Holdings Inc. has a twelve month low of $6.18 and a twelve month high of $13.07.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). The company had revenue of $70.52 million during the quarter, compared to analyst estimates of $78.55 million. Bridge Investment Group had a return on equity of 10.23% and a net margin of 0.25%. As a group, equities research analysts predict that Bridge Investment Group Holdings Inc. will post 0.79 earnings per share for the current year.

Bridge Investment Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.12 dividend. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.48 annualized dividend and a dividend yield of 6.09%. Bridge Investment Group’s dividend payout ratio (DPR) is presently -116.66%.

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.