Investment group

Short-term stake in Bridge Investment Group Holdings Inc. (NYSE: BRDG) increases 58.7%

Bridge Investment Group Holdings Inc. (NYSE: BRDG – Get Rating) benefited from a significant increase in short-term interest rates in September. As of September 30, there was short interest totaling 449,000 shares, an increase of 58.7% from the total of 283,000 shares as of September 15. Currently, 1.7% of the company’s shares are sold short. Based on an average daily trading volume of 84,400 shares, the days-to-cover ratio is currently 5.3 days.

Bridge Investment Group is trading down 1.1%

Shares of NYSE:BRDG opened at $15.00 on Friday. Bridge Investment Group has a 12-month low of $13.74 and a 12-month high of $25.61. The company’s 50-day simple moving average is $16.25 and its 200-day simple moving average is $16.91. The company has a market capitalization of $436.95 million, a PE ratio of 8.72 and a beta of 1.82. 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 (NYSE:BRDG – Get Rating) last released quarterly earnings data on Monday, August 8. The company reported earnings per share of $0.32 for the quarter, beating analyst consensus estimates of $0.19 by $0.13. The company had revenue of $99.02 million in the quarter. Bridge Investment Group achieved a return on equity of 4.61% and a net margin of 11.41%. As a group, equity research analysts expect Bridge Investment Group to post 1.1 earnings per share for the current fiscal year.

Bridge Investment Group increases its dividend

The company also recently disclosed 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. The ex-dividend date was Thursday, September 1. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 8.00%. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.26. Bridge Investment Group’s dividend payout ratio (DPR) is currently 69.77%.

Analysts set new price targets

BRDG has been the subject of several recent analyst reports. Morgan Stanley raised its price target on Bridge Investment Group from $21.00 to $22.00 and gave the stock an “overweight” rating in a Friday, August 12 report. Wells Fargo & Company raised its price target on Bridge Investment Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a Wednesday, August 10 report.

Hedge funds weigh on Bridge Investment Group

Institutional investors have recently changed their stock portfolios. JPMorgan Chase & Co. increased its stake in shares of Bridge Investment Group by 769.5% during the 1st quarter. JPMorgan Chase & Co. now owns 8,373 shares of the company valued at $170,000 after buying an additional 7,410 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Bridge Investment Group by 89.7% in Q1. Captrust Financial Advisors now owns 1,231 shares of the company valued at $25,000 after buying an additional 582 shares in the last quarter. Conversant Capital LLC increased its stake in shares of Bridge Investment Group by 10.6% in Q2. Conversant Capital LLC now owns 1,367,926 shares of the company valued at $19,890,000 after purchasing an additional 131,000 shares last quarter. Trexquant Investment LP increased its stake in the shares of Bridge Investment Group by 79.3% in the 2nd quarter. Trexquant Investment LP now owns 22,540 shares of the company valued at $328,000 after purchasing an additional 9,971 shares in the last quarter. Finally, the Bank of Nova Scotia increased its stake in the shares of Bridge Investment Group by 46.2% in the 2nd quarter. The Bank of Nova Scotia now owns 17,120 shares of the company valued at $248,000 after buying an additional 5,410 shares last quarter. Hedge funds and other institutional investors 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 around 25 investment vehicles. The company was founded in 2009 and is based in Salt Lake City, Utah.

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