Bridge Investment Group Holdings Inc. (NYSE: BRDG – Get Rating) was the target of a sharp decline in short interest in May. As of May 15, there was short interest totaling 356,500 shares, down 28.1% from the total of 495,900 shares as of April 30. Based on an average daily volume of 155,300 shares, the day-to-cover ratio is currently 2.3 days. Approximately 1.3% of the company’s shares are sold short.
NYSE BRDG shares opened at $19.38 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt ratio of 0.23. Bridge Investment Group has a 12-month low of $14.05 and a 12-month high of $25.61. The stock has a 50-day moving average of $18.92 and a two-hundred-day moving average of $20.54. The stock has a market capitalization of $563.78 million and a P/E ratio of 4.00.
Bridge Investment Group (NYSE:BRDG – Get Rating) last released quarterly earnings data on Monday, May 9. The company reported earnings per share of $0.28 for the quarter, beating consensus analyst estimates of $0.17 by $0.11. The company had revenue of $104.13 million in the quarter. Bridge Investment Group achieved a return on equity of 5.41% and a net margin of 29.40%. As a group, research analysts predict Bridge Investment Group will post 1.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 17. Shareholders of record on Friday, June 3 will receive a dividend of $0.26. The ex-date of this dividend is Thursday, June 2. This represents a dividend of $1.04 on an annualized basis and a dividend yield of 5.37%. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.21. Bridge Investment Group’s payout ratio is currently 17.36%.
Several large investors have recently increased or reduced their stake in BRDG. Captrust Financial Advisors increased its holdings in Bridge Investment Group by 89.7% in the first quarter. Captrust Financial Advisors now owns 1,231 shares of the company worth $25,000 after acquiring an additional 582 shares during the period. FourThought Financial LLC acquired a new position in Bridge Investment Group during the third quarter worth $62,000. Wells Fargo & Company MN increased its stake in Bridge Investment Group by 764.1% during the fourth quarter. Wells Fargo & Company MN now owns 2,722 shares of the company worth $68,000 after acquiring 2,407 additional shares during the period. JPMorgan Chase & Co. increased its position in Bridge Investment Group by 769.5% during the first quarter. JPMorgan Chase & Co. now owns 8,373 shares of the company worth $170,000 after buying an additional 7,410 shares last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Bridge Investment Group during the fourth quarter at a value of $186,000. 65.49% of the shares are currently held by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Bridge Investment Group from a “sell” rating to a “hold” rating in a Wednesday, May 11 report. Wells Fargo & Company cut its price target on Bridge Investment Group from $24.00 to $22.00 and set an “overweight” rating for the company in a Tuesday, April 19 research note. Citigroup reduced its price target on Bridge Investment Group from $25.00 to $24.00 and set a “buy” rating for the company in a Tuesday, April 12 research note. Finally, Morgan Stanley raised its price target on Bridge Investment Group to $26.00 and gave the stock an “overweight” rating in a Tuesday, May 17 research note. Two equity research analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $22.17.
About Bridge Investment Group (Get an evaluation)
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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