Bridge Investment Group (NYSE:BRDG) Sets New 1-Year High – Should You Buy?

Bridge Investment Group Holdings Inc. (NYSE:BRDG)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.99 and last traded at $10.98, with a volume of 149832 shares changing hands. The stock had previously closed at $10.90.

Analysts Set New Price Targets

A number of brokerages have issued reports on BRDG. UBS Group boosted their price objective on shares of 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 cut shares of Bridge Investment Group from a “buy” rating to a “hold” rating and boosted their target price for the company from $10.00 to $10.50 in a report on Monday, October 14th. Morgan Stanley boosted their target price on shares of Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Bridge Investment Group has an average rating of “Moderate Buy” and an average price target of $11.70.

Bridge Investment Group Trading Down 0.2 %

The company has a market cap of $1.32 billion, a P/E ratio of -99.09 and a beta of 1.65. The stock’s 50 day moving average is $9.41 and its 200-day moving average is $8.15. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $79.05 million. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. During the same quarter in the previous year, the business posted $0.20 EPS. Research analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.77 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.52 annualized dividend and a yield of 4.78%. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.12. Bridge Investment Group’s dividend payout ratio is currently -472.73%.

Hedge Funds Weigh In On Bridge Investment Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Albion Financial Group UT purchased a new stake in shares of Bridge Investment Group during the 2nd quarter valued at about $37,000. Quarry LP increased its position in shares of Bridge Investment Group by 22.5% during 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 during the last quarter. HBK Sorce Advisory LLC increased its position in shares of Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after purchasing an additional 4,035 shares during the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $411,000 after purchasing an additional 1,735 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Bridge Investment Group by 22.0% during the 2nd quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock valued at $852,000 after purchasing an additional 20,726 shares during the last quarter. Institutional investors own 52.83% of the company’s stock.

About Bridge Investment Group

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.