Bridge Investment Group (NYSE:BRDG) Sees Strong Trading Volume - Here's Why

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 332,480 shares were traded during mid-day trading, an increase of 20% from the previous session's volume of 276,449 shares.The stock last traded at $9.43 and had previously closed at $9.41.

Analyst Ratings Changes

Several research analysts recently commented on BRDG shares. Wells Fargo & Company lifted their target price on shares of 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. UBS Group boosted their price target on Bridge Investment Group from $7.50 to $12.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $10.70.

Bridge Investment Group Stock Performance

The company has a market cap of $1.17 billion, a PE ratio of 235.81 and a beta of 1.40. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $9.18 and a 200-day moving average of $8.97.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.08). The company had revenue of $71.80 million for the quarter, compared to analysts' expectations of $77.60 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. Equities research analysts anticipate that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd purchased a new position in Bridge Investment Group during the 4th quarter valued at $221,000. Bank of New York Mellon Corp increased its position in Bridge Investment Group by 204.5% during the 4th quarter. Bank of New York Mellon Corp now owns 191,341 shares of the company's stock valued at $1,607,000 after purchasing an additional 128,505 shares during the period. Northern Trust Corp increased its position in Bridge Investment Group by 19.2% during the 4th quarter. Northern Trust Corp now owns 89,937 shares of the company's stock valued at $755,000 after purchasing an additional 14,481 shares during the period. EntryPoint Capital LLC purchased a new position in Bridge Investment Group during the 4th quarter valued at $133,000. Finally, Norges Bank purchased a new position in Bridge Investment Group during the 4th quarter valued at $597,000. 52.83% of the stock is owned by hedge funds and other institutional investors.

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.

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.