Bridge Investment Group Holdings Inc. (NYSE:BRDG) Sees Large Decline in Short Interest

Key Points

• Bridge Investment Group Holdings Inc. experienced a significant decrease in short interest, dropping 35.7% to 82,000 shares as of July 31st.
• Insiders have sold 137,949 shares of the company stock in the past 90 days, with Vice Chairman Dean Allara and Chairman Robert Randolph Morse selling a total of 34,492 shares on July 23rd.
• The company declared a dividend of $0.045 per share to be paid on August 29th, reflecting a yield of 179.0%.

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 82,000 shares, adropof35.7% from the July 15th total of 127,600 shares. Approximately0.2% of the shares of the company are short sold. Based on an average daily volume of 426,100 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 426,100 shares, the days-to-cover ratio is currently 0.2 days. Approximately0.2% of the shares of the company are short sold.

Insider Buying and Selling at Bridge Investment Group

In other Bridge Investment Group news, Vice Chairman Dean Allara sold 6,743 shares of Bridge Investment Group stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total transaction of $71,812.95. Following the sale, the insider owned 643,200 shares of the company's stock, valued at $6,850,080. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Robert Randolph Morse sold 27,749 shares of Bridge Investment Group stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $10.65, for a total value of $295,526.85. Following the transaction, the chairman owned 3,077,962 shares in the company, valued at approximately $32,780,295.30. This represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,949 shares of company stock worth $1,458,376 in the last 90 days. Corporate insiders own 73.00% of the company's stock.

Institutional Investors Weigh In On Bridge Investment Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaQuest LLC raised its position in Bridge Investment Group by 107.1% during the first quarter. AlphaQuest LLC now owns 5,290 shares of the company's stock valued at $51,000 after purchasing an additional 2,736 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Bridge Investment Group during the first quarter worth $63,000. EP Wealth Advisors LLC acquired a new position in shares of Bridge Investment Group during the fourth quarter worth $89,000. Quantbot Technologies LP acquired a new position in shares of Bridge Investment Group during the second quarter worth $93,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Bridge Investment Group during the fourth quarter worth $95,000. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Bridge Investment Group Price Performance

NYSE BRDG traded down $0.1630 during trading hours on Tuesday, reaching $9.7270. 460,252 shares of the company's stock were exchanged, compared to its average volume of 402,725. The firm has a fifty day moving average of $10.09 and a 200-day moving average of $9.50. Bridge Investment Group has a one year low of $7.12 and a one year high of $11.69. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.99. The stock has a market cap of $1.21 billion, a PE ratio of -23.16 and a beta of 1.41.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.08). The firm had revenue of $73.23 million for the quarter, compared to analyst estimates of $75.50 million. Bridge Investment Group had a positive return on equity of 8.42% and a negative net margin of 3.03%. On average, equities research analysts predict that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a dividend of $0.045 per share. The ex-dividend date is Friday, August 15th. This represents a yield of 179.0%. Bridge Investment Group's dividend payout ratio (DPR) is presently -42.86%.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their price target on Bridge Investment Group from $10.00 to $10.50 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Bridge Investment Group has an average rating of "Hold" and an average price target of $10.70.

About Bridge Investment Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.