Investment group

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Brief Interest Update

Bridge Investment Group Holdings Inc. (NYSE: BRDG – Get Rating) saw strong growth in short-term interest during August. As of August 31, there were short interests totaling 279,300 shares, up 16.8% from the total of 239,100 shares as of August 15. Approximately 1.0% of the company’s shares are sold short. Based on an average daily trading volume of 106,400 shares, the day-to-cover ratio is currently 2.6 days.

Analyst upgrades and downgrades

A number of stock analysts have published reports on BRDG shares. Morgan Stanley raised its price target on shares of Bridge Investment Group from $21.00 to $22.00 and gave the stock an “overweight” rating in a Friday, August 12 research report. Wells Fargo & Company raised its price target on shares of Bridge Investment Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a Wednesday, August 10 research report.

Bridge Investment Group Price Performance

BRDG lost $0.64 on Friday, hitting $15.97. 374,673 shares of the company were traded, against an average volume of 82,907. Bridge Investment Group has a fifty-two week low of $13.74 and a fifty-two week high of $25.61. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt ratio of 0.22. The company has a 50-day moving average price of $16.44 and a 200-day moving average price of $17.39. The stock has a market capitalization of $465.21 million, a price-earnings ratio of 9.28 and a beta of 1.93.

Bridge Investment Group increases its dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 16. Shareholders of record on Friday, September 2 received a dividend of $0.30 per share. This represents an annualized dividend of $1.20 and a yield of 7.51%. The ex-dividend date was Thursday, September 1. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.26. Bridge Investment Group’s payout ratio is 69.77%.

Institutional investors weigh in on Bridge Investment Group

Several institutional investors and hedge funds have recently increased or reduced their stake in the company. First Republic Investment Management Inc. increased its stake in Bridge Investment Group by 10.8% during the second quarter. First Republic Investment Management Inc. now owns 97,571 shares of the company worth $1,419,000 after purchasing an additional 9,524 shares in the last quarter. Conversant Capital LLC increased its equity stake in Bridge Investment Group by 10.6% during Q2. Conversant Capital LLC now owns 1,367,926 shares of the company worth $19,890,000 after acquiring an additional 131,000 shares during the period. PDT Partners LLC increased its equity stake in Bridge Investment Group by 13.6% during the second quarter. PDT Partners LLC now owns 14,331 shares of the company worth $208,000 after acquiring an additional 1,721 shares during the period. Cubist Systematic Strategies LLC increased its equity stake in Bridge Investment Group by 116.3% during Q2. Cubist Systematic Strategies LLC now owns 27,977 shares of the company worth $407,000 after acquiring an additional 15,042 shares during the period. Finally, Northern Trust Corp increased its stake in Bridge Investment Group shares by 4.4% during the 2nd quarter. Northern Trust Corp now owns 42,203 shares of the company worth $614,000 after acquiring an additional 1,784 shares during the period. Institutional investors and hedge funds own 59.49% of the company’s shares.

Bridge Investment Group Company Profile

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Bridge Investment Group Holdings Inc is engaged in real estate investment management business in the United States. It manages capital on behalf of around 100 global institutions and 6,500 individual investors through approximately 25 investment vehicles. The company was founded in 2009 and is based in Salt Lake City, Utah.

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