Investment group

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Sees Significant Short-Term Interest Growth

Bridge Investment Group Holdings Inc. (NYSE: BRDG – Get Rating) experienced a significant increase in short-term interest in August. As of August 15, there was short interest totaling 239,100 shares, an increase of 24.8% from the total of 191,600 shares as of July 31. Approximately 0.9% of the company’s shares are sold short. Based on an average daily trading volume of 133,200 shares, the days-to-cover ratio is currently 1.8 days.

Institutional investors weigh in on Bridge Investment Group

Institutional investors have recently increased or reduced their stake in the stock. Captrust Financial Advisors increased its stake in shares of 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 582 additional shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Bridge Investment Group during Q2 worth $96,000. Acadian Asset Management LLC acquired a new position in Bridge Investment Group during Q4 worth $186,000. JPMorgan Chase & Co. increased its position in Bridge Investment Group shares by 769.5% in the first quarter. JPMorgan Chase & Co. now owns 8,373 shares of the company worth $170,000 after acquiring 7,410 additional shares last quarter. Finally, PDT Partners LLC strengthened its position in Bridge Investment Group shares 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 in the last quarter. Institutional investors hold 59.49% of the company’s shares.

Wall Street analysts predict growth

A number of equity research analysts have recently released reports on the stock. 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, report. Morgan Stanley raised its price target on Bridge Investment Group from $21.00 to $22.00 and gave the company an “overweight” rating in a Friday, August 12 research report.

Bridge Investment Group is trading down 1.2%

NYSE: BRDG was down $0.19 in Tuesday’s midday session, hitting $16.22. 43,875 shares of the company were traded, against an average volume of 144,691. The company’s fifty-day moving average is $16.08 and its 200-day moving average is $17.86. Bridge Investment Group has a 12-month low of $13.74 and a 12-month high of $25.61. The company has a market capitalization of $472.50 million and a P/E ratio of 9.43. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt ratio of 0.22.

Bridge Investment Group increases its dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 16. Investors of record on Friday, September 2 will receive a dividend of $0.30 per share. The ex-dividend date is Thursday, September 1. This represents a dividend of $1.20 on an annualized basis and a yield of 7.40%. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.26. Bridge Investment Group’s dividend payout ratio (DPR) is currently 60.47%.

About Bridge Investment Group

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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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