Bridge Investment Group (NYSE:BRDG) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Bridge Investment Group experienced a dramatic volume increase of 696%, with approximately 5.86 million shares traded on Tuesday, reflecting heightened investor interest.
• Wells Fargo raised its price target for Bridge Investment Group from $10.00 to $10.50, maintaining an "equal weight" rating, while the average consensus price target remains at $10.70.
• The company announced a quarterly dividend of $0.045, which represents a 1.9% yield, following a recent earnings report that indicated a shortfall in both EPS and revenue estimates.

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) saw an uptick in trading volume on Tuesday . 5,858,957 shares traded hands during mid-day trading, an increase of 696% from the previous session's volume of 736,144 shares.The stock last traded at $9.46 and had previously closed at $9.64.

Wall Street Analyst Weigh In

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

Bridge Investment Group Price Performance

The stock's 50 day moving average price is $10.08 and its two-hundred day moving average price is $9.63. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -22.52 and a beta of 1.40. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.10 and a quick ratio of 1.10.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.08). The company had revenue of $73.23 million during 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 anticipate that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.18 annualized dividend and a dividend yield of 1.9%. Bridge Investment Group's payout ratio is -42.86%.

Insiders Place Their Bets

In other Bridge Investment Group news, Vice Chairman Dean Allara sold 6,743 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total value of $71,812.95. Following the transaction, the insider directly owned 643,200 shares in the company, valued at $6,850,080. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam O'farrell sold 3,817 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total value of $40,651.05. Following the sale, the chief operating officer owned 527,129 shares of the company's stock, valued at approximately $5,613,923.85. The trade was a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,949 shares of company stock worth $1,458,376 in the last three months. 65.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bridge Investment Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AlphaQuest LLC grew its position in Bridge Investment Group by 107.1% in the 1st quarter. AlphaQuest LLC now owns 5,290 shares of the company's stock valued at $51,000 after purchasing an additional 2,736 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Bridge Investment Group during the 1st quarter valued at about $63,000. EP Wealth Advisors LLC bought a new position in shares of Bridge Investment Group during the 4th quarter valued at about $89,000. Quantbot Technologies LP purchased a new stake in Bridge Investment Group during the second quarter valued at about $93,000. Finally, Invesco Ltd. bought a new stake in Bridge Investment Group in the 2nd quarter worth $166,000. Institutional investors and hedge funds own 52.83% of the company's stock.

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.