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

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) gapped down before the market opened 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 traded.

Specifically, CEO Jonathan Slager sold 11,403 shares of the company’s stock in a transaction 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 in the company, valued at $7,978,967.49. This represents a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam O’farrell sold 6,935 shares of Bridge Investment Group 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 in the company, valued at approximately $4,471,095.78. This 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 the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $55,169.95. Following the transaction, the chief operating officer now owns 551,512 shares of the company’s stock, valued at $4,572,034.48. This trade represents a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday. Morgan Stanley downgraded shares of 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 report on Friday, November 8th. TD Cowen cut their price objective on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. UBS Group upped 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 note on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.70.

Bridge Investment Group Stock Down 5.8 %

The firm has a market cap of $946.88 million, a price-to-earnings ratio of 195.55 and a beta of 1.57. The firm has a fifty day moving average price of $9.49 and a 200-day moving average price of $8.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). The company had revenue of $101.51 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $0.22 earnings per share. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Friday, December 6th. Bridge Investment Group’s dividend payout ratio is currently 1,000.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its holdings in Bridge Investment Group by 2.3% in the 3rd quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock worth $33,271,000 after acquiring an additional 74,779 shares during the period. Bank of New York Mellon Corp boosted 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 valued at $411,000 after buying an additional 1,735 shares during the period. XTX Topco Ltd bought a new position in Bridge Investment Group during the 3rd quarter worth $127,000. Geode Capital Management LLC increased its position in Bridge Investment Group by 11.2% in the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock worth $4,026,000 after buying an additional 40,975 shares during the period. Finally, State Street Corp lifted its stake in Bridge Investment Group by 12.0% in the third quarter. State Street Corp now owns 128,711 shares of the company’s stock valued at $1,270,000 after buying an additional 13,800 shares during the last quarter. 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.