Corton Capital Inc. reduced its holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 76.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,464 shares of the company's stock after selling 51,474 shares during the period. Corton Capital Inc.'s holdings in Bridge Investment Group were worth $130,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in BRDG. Jane Street Group LLC purchased a new stake in Bridge Investment Group during the 3rd quarter valued at about $102,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Bridge Investment Group during the 4th quarter worth about $221,000. Jennison Associates LLC lifted its holdings in shares of Bridge Investment Group by 0.9% in the 4th quarter. Jennison Associates LLC now owns 3,402,475 shares of the company's stock worth $28,581,000 after acquiring an additional 31,593 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bridge Investment Group by 204.5% in 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 buying an additional 128,505 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in Bridge Investment Group in the fourth quarter valued at $133,000. Hedge funds and other institutional investors own 52.83% of the company's stock.
Bridge Investment Group Price Performance
Shares of NYSE BRDG traded down $0.07 during trading on Wednesday, reaching $10.13. The company had a trading volume of 141,747 shares, compared to its average volume of 265,603. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. Bridge Investment Group Holdings Inc. has a twelve month low of $6.81 and a twelve month high of $11.69. The stock has a 50-day moving average price of $9.26 and a two-hundred day moving average price of $9.07. The stock has a market capitalization of $1.25 billion, a PE ratio of 253.31 and a beta of 1.46.
Bridge Investment Group (NYSE:BRDG - Get Free Report) last released its earnings results 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 firm had revenue of $71.80 million during 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%. As a group, sell-side analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.
Bridge Investment Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.11 per share. The ex-dividend date was Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.34%. This is a positive change from Bridge Investment Group's previous quarterly dividend of $0.10. Bridge Investment Group's dividend payout ratio (DPR) is -84.62%.
Analysts Set New Price Targets
BRDG has been the topic of several research reports. UBS Group raised their price objective on Bridge Investment Group from $7.50 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on Bridge Investment Group from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $10.40.
Check Out Our Latest Stock Report on BRDG
Bridge Investment Group Company Profile
(
Free Report)
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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