Alberta Investment Management Corp Acquires New Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Key Points

• Alberta Investment Management Corp has made a new investment in Bridge Investment Group Holdings Inc., purchasing 139,446 shares valued at approximately $1.34 million.
• Insiders, including CEO Jonathan Slager and COO Adam O'farrell, have recently sold shares, indicating a 1.04% and 0.72% decrease in their respective ownership stakes.
• Bridge Investment Group's shares are currently trading around $10.03, with a consensus rating of "Hold" and an average price target of $10.70 from equity analysts.

Alberta Investment Management Corp bought a new stake in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 139,446 shares of the company's stock, valued at approximately $1,336,000. Alberta Investment Management Corp owned approximately 0.11% of Bridge Investment Group as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BRDG. Janney Montgomery Scott LLC bought a new position in Bridge Investment Group in the 1st quarter valued at $400,000. Northern Trust Corp increased its stake in shares of Bridge Investment Group by 19.2% in the 4th quarter. Northern Trust Corp now owns 89,937 shares of the company's stock valued at $755,000 after buying an additional 14,481 shares during the period. Norges Bank acquired a new position in shares of Bridge Investment Group during the fourth quarter valued at $597,000. Dimensional Fund Advisors LP boosted its holdings in Bridge Investment Group by 18.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 212,364 shares of the company's stock valued at $1,784,000 after acquiring an additional 33,378 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Bridge Investment Group in the fourth quarter worth about $168,000. Institutional investors own 52.83% of the company's stock.

Insider Activity at Bridge Investment Group

In other news, Chairman Robert Randolph Morse sold 27,749 shares of the business'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 $295,526.85. Following the sale, the chairman owned 3,077,962 shares of the company's stock, valued at $32,780,295.30. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Slager sold 9,562 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total transaction of $101,835.30. Following the completion of the sale, the chief executive officer owned 912,067 shares of the company's stock, valued at $9,713,513.55. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 137,949 shares of company stock worth $1,458,376. Corporate insiders own 65.90% of the company's stock.

Bridge Investment Group Trading Down 3.5%

Shares of BRDG stock traded down $0.36 on Thursday, reaching $9.93. The company had a trading volume of 198,755 shares, compared to its average volume of 390,943. The stock has a market cap of $1.23 billion, a PE ratio of -19.07 and a beta of 1.41. The company has a 50-day moving average of $9.97 and a 200-day moving average of $9.36. 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 Holdings Inc. has a 12 month low of $7.12 and a 12 month high of $11.69.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.08). Bridge Investment Group had a positive return on equity of 10.07% and a negative net margin of 3.45%. The business had revenue of $71.80 million for the quarter, compared to analyst estimates of $77.60 million. On average, equities analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised their target price on shares of Bridge Investment Group from $10.00 to $10.50 and gave the company 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 MarketBeat, the company has an average rating of "Hold" and a consensus price target of $10.70.

Bridge Investment Group 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.