Investment group

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short interest down 19.5% in June

Bridge Investment Group Holdings Inc. (NYSE: BRDG – Get Rating) was the target of a sharp drop in short interest in June. As of June 15, there was short interest totaling 267,200 shares, down 19.5% from the May 31 total of 331,800 shares. Based on an average daily volume of 166,600 shares, the short interest ratio is currently 1.6 days. Currently, 1.0% of the company’s shares are sold short.

Major investors have recently changed their stake in the company. PDT Partners LLC acquired a new stake in Bridge Investment Group in Q4 valued at $397,000. Morgan Stanley bought a new stake in Bridge Investment Group in Q3 worth $14,000,000. Geode Capital Management LLC acquired a new stake in Bridge Investment Group in Q3 valued at $2,125,000. Renaissance Technologies LLC acquired a new stake in Bridge Investment Group in Q4 valued at $3,031,000. Finally, Citadel Advisors LLC acquired a new stake in Bridge Investment Group in Q3 worth $4,477,000. Institutional investors hold 65.49% of the company’s shares.

NYSE BRDG traded up $0.08 at midday on Tuesday, hitting $14.74. The stock recorded a trading volume of 120,786 shares, against an average volume of 208,084. The company’s 50-day moving average is $17.19 and its 200-day moving average is 19.60 $. Bridge Investment Group has a 12-month low of $13.74 and a 12-month high of $25.61. The company has a debt ratio of 0.23, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market capitalization of $428.79 million and a price-earnings ratio of 3.03.

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Bridge Investment Group (NYSE:BRDG – Get Rating) last released its results on Monday, May 9. The company reported earnings per share (EPS) of $0.28 for the quarter, beating the consensus estimate 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, equity research analysts expect Bridge Investment Group to post 1.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 17. Shareholders of record on Friday, June 3 received a dividend of $0.26. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.21. This represents an annualized dividend of $1.04 and a yield of 7.06%. The ex-dividend date was Thursday, June 2. Bridge Investment Group’s dividend payout ratio is currently 21.49%.

Several equity research analysts have commented on the company. 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 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. Finally, 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. One equity research analyst gave the stock a hold rating and four gave the company’s stock a buy rating. According to data from MarketBeat.com, Bridge Investment Group has an average rating of “Moderate Buy” and a consensus target price of $21.20.

About Bridge Investment Group (Get an assessment)

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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