Trexquant Investment LP Purchases 40,461 Shares of Bridge Investment Group Holdings Inc. $BRDG

Key Points

• Trexquant Investment LP increased its stake in Bridge Investment Group Holdings Inc. by 87.4%, owning 86,739 shares valued at approximately $831,000 as of the latest SEC filing.
• CEO Jonathan Slager sold 9,562 shares of the company's stock for about $101,835, indicating a 1.04% decrease in his ownership.
• Wells Fargo & Company raised Bridge Investment Group's price target from $10.00 to $10.50, with an average rating of "Hold" from five analysts.

Trexquant Investment LP lifted its stake in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 87.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,739 shares of the company's stock after acquiring an additional 40,461 shares during the quarter. Trexquant Investment LP owned approximately 0.07% of Bridge Investment Group worth $831,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. AlphaQuest LLC lifted its position 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 valued at $51,000 after acquiring an additional 2,736 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Bridge Investment Group in the first quarter valued at about $63,000. EP Wealth Advisors LLC purchased a new position in shares of Bridge Investment Group in the fourth quarter valued at about $89,000. Raymond James Financial Inc. purchased a new position in shares of Bridge Investment Group in the fourth quarter valued at about $168,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Bridge Investment Group in the first quarter valued at about $400,000. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bridge Investment Group

In related news, COO Adam O'farrell sold 3,817 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $10.65, for a total value of $40,651.05. Following the transaction, the chief operating officer owned 527,129 shares of the company's stock, valued at $5,613,923.85. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Randolph Morse sold 27,749 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $10.65, for a total value of $295,526.85. Following the completion of the transaction, the chairman directly owned 3,077,962 shares in the company, valued at approximately $32,780,295.30. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,949 shares of company stock worth $1,458,376 in the last ninety days. 65.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their price objective on Bridge Investment Group from $10.00 to $10.50 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.70.

Bridge Investment Group Trading Down 1.9%

BRDG stock traded down $0.18 during midday trading on Friday, reaching $9.46. 5,858,957 shares of the company traded hands, compared to its average volume of 722,382. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -22.52 and a beta of 1.40. The business has a 50 day moving average of $10.01 and a 200-day moving average of $9.65. Bridge Investment Group Holdings Inc. has a 52-week low of $7.12 and a 52-week high of $11.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.10 and a current ratio of 1.10.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.08). The business had revenue of $73.23 million for the quarter, compared to the consensus estimate of $75.50 million. Bridge Investment Group had a negative net margin of 3.03% and a positive return on equity of 8.42%. As a group, sell-side analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.045 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.9%. Bridge Investment Group's dividend payout ratio is currently -42.86%.

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.