Bridge Investment Group (NYSE:BRDG) Sees Unusually-High Trading Volume Following Dividend Announcement

Key Points

• Bridge Investment Group experienced a trading volume increase of 351%, with 1,782,080 shares traded following the announcement of a new $0.045 dividend to be paid on August 29th.
• Wells Fargo raised their price target for Bridge Investment Group from $10.00 to $10.50 while maintaining an "equal weight" rating, as analysts suggest a consensus rating of "Hold" with an average target price of $10.70.
• The company's last quarterly earnings report showed a loss with $0.14 earnings per share, falling short of the expected $0.22, alongside a negative net margin of -3.03%.

Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) saw strong trading volume on Tuesday after the company announced a dividend. 1,782,080 shares traded hands during mid-day trading, an increase of 351% from the previous session's volume of 394,763 shares.The stock last traded at $10.36 and had previously closed at $10.04.The newly announced dividend which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a $0.045 dividend. This represents a dividend yield of 179.0%. The ex-dividend date of this dividend is Friday, August 15th. Bridge Investment Group's dividend payout ratio (DPR) is presently -104.76%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised their price objective 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. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Bridge Investment Group has a consensus rating of "Hold" and an average target price of $10.70.

Bridge Investment Group Stock Performance

The firm's 50-day simple moving average is $10.02 and its 200-day simple moving average is $9.43. The company has a market capitalization of $1.28 billion, a PE ratio of -24.65 and a beta of 1.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.98.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.08). Bridge Investment Group had a positive return on equity of 8.25% and a negative net margin of 3.03%. The business had revenue of $73.23 million during the quarter, compared to analysts' expectations of $75.50 million. On average, research analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Insider Activity

In related news, COO Adam O'farrell sold 3,817 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total transaction of $40,651.05. Following the completion of the transaction, the chief operating officer owned 527,129 shares in the company, valued at $5,613,923.85. The trade was a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jonathan Slager sold 9,562 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $10.65, for a total transaction of $101,835.30. Following the transaction, the chief executive officer owned 912,067 shares of the company's stock, valued at approximately $9,713,513.55. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,949 shares of company stock worth $1,458,376. Insiders own 73.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BRDG. AlphaQuest LLC increased its stake in shares of Bridge Investment Group by 107.1% in the first quarter. AlphaQuest LLC now owns 5,290 shares of the company's stock worth $51,000 after acquiring an additional 2,736 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Bridge Investment Group in the first quarter worth $63,000. EP Wealth Advisors LLC acquired a new stake in shares of Bridge Investment Group in the fourth quarter worth $89,000. Aquatic Capital Management LLC acquired a new stake in shares of Bridge Investment Group in the fourth quarter worth $95,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bridge Investment Group in the fourth quarter worth $168,000. 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.

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