Alberta Investment Management Corp Buys Shares of 139,446 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 acquired a new position in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 139,446 shares of the company's stock, valued at approximately $1,336,000. Alberta Investment Management Corp owned 0.11% of Bridge Investment Group as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Bridge Investment Group by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 3,481,145 shares of the company's stock worth $29,242,000 after buying an additional 208,022 shares during the period. Franklin Resources Inc. boosted its stake in Bridge Investment Group by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 1,295,065 shares of the company's stock worth $10,879,000 after acquiring an additional 8,218 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in Bridge Investment Group by 17.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 964,060 shares of the company's stock worth $8,098,000 after acquiring an additional 141,178 shares in the last quarter. DigitalBridge Group Inc. boosted its stake in Bridge Investment Group by 24.4% during the fourth quarter. DigitalBridge Group Inc. now owns 508,035 shares of the company's stock worth $4,267,000 after acquiring an additional 99,520 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Bridge Investment Group by 322.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 280,196 shares of the company's stock worth $2,354,000 after acquiring an additional 213,857 shares in the last quarter. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Bridge Investment Group Stock Up 2.4%

Shares of BRDG stock traded up $0.25 on Tuesday, hitting $10.27. The stock had a trading volume of 738,213 shares, compared to its average volume of 502,660. The business has a 50 day moving average of $9.94 and a 200 day moving average of $9.35. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -19.74 and a beta of 1.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.08 and a quick ratio of 1.08. Bridge Investment Group Holdings Inc. has a 12-month low of $7.09 and a 12-month high of $11.69.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.08). Bridge Investment Group had a negative net margin of 3.45% and a positive return on equity of 10.07%. The firm had revenue of $71.80 million during the quarter, compared to analysts' expectations of $77.60 million. As a group, analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Insider Buying and Selling at Bridge Investment Group

In other news, CEO Jonathan Slager sold 9,562 shares of Bridge Investment Group stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total value of $101,835.30. Following the completion of the transaction, the chief executive officer owned 912,067 shares in the company, valued at $9,713,513.55. This trade represents 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 the SEC website. Also, COO Adam O'farrell sold 3,817 shares of the firm'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 of the company's stock, valued at $5,613,923.85. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,949 shares of company stock worth $1,458,376 over the last three months. Company insiders own 73.00% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased 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. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.