Bridge Investment Group Holdings Inc. (NYSE:BRDG) CEO Jonathan Slager Sells 11,403 Shares

Bridge Investment Group Holdings Inc. (NYSE:BRDG) CEO Jonathan Slager sold 11,403 shares of the firm’s stock in a transaction dated 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 approximately $7,978,967.49. This represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bridge Investment Group Stock Performance

Shares of NYSE:BRDG traded up $0.02 during midday trading on Monday, reaching $8.27. The company had a trading volume of 519,523 shares, compared to its average volume of 313,608. Bridge Investment Group Holdings Inc. has a 52-week low of $6.18 and a 52-week high of $11.69. The company’s 50 day moving average price is $9.49 and its 200 day moving average price is $8.89. The stock has a market cap of $1.00 billion, a P/E ratio of 206.80 and a beta of 1.57. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The business had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. As a group, sell-side analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BRDG shares. Morgan Stanley cut 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 note on Friday, November 8th. UBS Group lifted their price target 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 lowered their price objective on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price objective 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Bridge Investment Group currently has an average rating of “Hold” and an average price target of $11.00.

Institutional Investors Weigh In On Bridge Investment Group

A number of institutional investors and hedge funds have recently made changes to their positions in BRDG. Quarry LP boosted 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 acquiring an additional 1,535 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Bridge Investment Group in the third quarter worth approximately $102,000. Paloma Partners Management Co bought a new stake in Bridge Investment Group during the third quarter valued at approximately $110,000. XTX Topco Ltd purchased a new position in Bridge Investment Group in the 3rd quarter worth approximately $127,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Bridge Investment Group by 3.2% in 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. Hedge funds and other institutional investors 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.