Bridge Investment Group (NYSE:BRDG) Stock Price Up 5.7%

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shares traded up 5.7% on Wednesday . The stock traded as high as $7.06 and last traded at $7.00. 159,560 shares changed hands during trading, a decline of 44% from the average session volume of 286,772 shares. The stock had previously closed at $6.62.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating for the company in a report on Friday, February 23rd. Morgan Stanley decreased their price objective on shares of Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, February 26th. TD Cowen assumed coverage on shares of Bridge Investment Group in a report on Thursday, January 4th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, UBS Group decreased their price target on shares of Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating for the company in a research note on Friday, March 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Bridge Investment Group has a consensus rating of “Moderate Buy” and an average price target of $10.67.

Bridge Investment Group Stock Performance

The stock has a market cap of $843.25 million, a P/E ratio of -15.60 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average price is $7.01 and its 200-day moving average price is $8.03.

Bridge Investment Group (NYSE:BRDG) last released 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). Bridge Investment Group had a negative net margin of 1.73% and a positive return on equity of 9.14%. The company had revenue of $70.52 million for the quarter, compared to the consensus estimate of $78.55 million. Sell-side analysts expect that Bridge Investment Group Holdings Inc. will post 0.78 earnings per share for the current fiscal year.

Bridge Investment Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Thursday, March 7th. Bridge Investment Group’s dividend payout ratio is currently -62.22%.

Institutional Trading of Bridge Investment Group

A number of large investors have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of Bridge Investment Group in the fourth quarter valued at about $37,000. GW Henssler & Associates Ltd. acquired a new position in shares of Bridge Investment Group during the third quarter valued at about $103,000. Jump Financial LLC acquired a new position in shares of Bridge Investment Group during the third quarter valued at about $121,000. Raymond James & Associates increased its holdings in shares of Bridge Investment Group by 13.1% during the fourth quarter. Raymond James & Associates now owns 15,259 shares of the company’s stock valued at $149,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Bridge Investment Group during the fourth quarter valued at about $249,000. 52.83% of the stock is owned by hedge funds and other institutional investors.

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.