Bridge Investment Group (NYSE:BRDG) Shares Up 5.7%

Bridge Investment Group Holdings Inc. (NYSE:BRDG) shot up 5.7% during mid-day trading on Wednesday . The company traded as high as $7.06 and last traded at $7.00. 159,560 shares changed hands during trading, a decline of 44% from the average session volume of 286,772 shares. The stock had previously closed at $6.62.

Analysts Set New Price Targets

A number of research firms recently issued reports on BRDG. TD Cowen began coverage on Bridge Investment Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $11.00 target price for the company. Morgan Stanley lowered their target price on Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. JPMorgan Chase & Co. decreased their price target on shares of Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Wells Fargo & Company decreased their price target on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Finally, UBS Group cut their price objective on Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating for the company in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Bridge Investment Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

Bridge Investment Group Stock Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50-day simple moving average of $6.90 and a 200-day simple moving average of $8.00. The stock has a market cap of $839.62 million, a P/E ratio of -15.41 and a beta of 1.61.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Wednesday, February 21st. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Bridge Investment Group had a negative net margin of 1.73% and a positive return on equity of 9.14%. The business had revenue of $70.52 million during the quarter, compared to the consensus estimate of $78.55 million. Research analysts forecast that Bridge Investment Group Holdings Inc. will post 0.78 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Thursday, March 7th. Bridge Investment Group’s payout ratio is -62.22%.

Hedge Funds Weigh In On Bridge Investment Group

A number of hedge funds and other institutional investors have recently made changes to their positions in BRDG. Voss Capital LLC lifted its stake in shares of Bridge Investment Group by 6.7% in the third quarter. Voss Capital LLC now owns 397,790 shares of the company’s stock worth $3,660,000 after acquiring an additional 25,070 shares during the period. GW Henssler & Associates Ltd. acquired a new position in Bridge Investment Group in the third quarter valued at approximately $103,000. Bank of New York Mellon Corp lifted its stake in Bridge Investment Group by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 218,284 shares of the company’s stock valued at $2,008,000 after buying an additional 1,735 shares during the period. Jennison Associates LLC lifted its stake in Bridge Investment Group by 3.9% in the third quarter. Jennison Associates LLC now owns 3,083,410 shares of the company’s stock valued at $28,367,000 after buying an additional 115,347 shares during the period. Finally, Jump Financial LLC acquired a new position in Bridge Investment Group in the third quarter valued at approximately $121,000. 52.83% of the stock is owned by institutional investors and hedge funds.

Bridge Investment Group Company Profile

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