Carmignac Gestion Purchases New Stake in Bridge Investment Group Holdings Inc. $BRDG

Key Points

• Carmignac Gestion has acquired 94,014 shares of Bridge Investment Group Holdings Inc., valued at approximately $901,000, increasing its ownership to 0.08% of the company.
• Bridge Investment Group recently reported quarterly earnings of $0.14 per share, missing analysts' expectations, with a revenue of $73.23 million compared to $75.50 million forecasted.
• The company declared a dividend of $0.045 per share, with a dividend yield of 179.0%, set to be paid on August 29th to shareholders of record on August 18th.

Carmignac Gestion purchased a new stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 94,014 shares of the company's stock, valued at approximately $901,000. Carmignac Gestion owned approximately 0.08% of Bridge Investment Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Bridge Investment Group during the 1st quarter valued at about $63,000. EP Wealth Advisors LLC purchased a new position in shares of Bridge Investment Group during the 4th quarter worth approximately $89,000. Aquatic Capital Management LLC acquired a new position in shares of Bridge Investment Group during the 4th quarter worth approximately $95,000. Raymond James Financial Inc. purchased a new stake in Bridge Investment Group in the 4th quarter valued at approximately $168,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Bridge Investment Group during the 1st quarter valued at $400,000. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bridge Investment Group

In related news, Chairman Robert Randolph Morse sold 27,749 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 value of $295,526.85. Following the completion of the sale, the chairman directly owned 3,077,962 shares in the company, valued at approximately $32,780,295.30. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Dean Allara sold 6,743 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 transaction of $71,812.95. Following the transaction, the insider directly owned 643,200 shares in the company, valued at approximately $6,850,080. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,949 shares of company stock valued at $1,458,376 over the last three months. Insiders own 65.90% of the company's stock.

Bridge Investment Group Trading Up 0.3%

Shares of Bridge Investment Group stock traded up $0.0250 during trading hours on Friday, reaching $9.4950. 613,712 shares of the company's stock were exchanged, compared to its average volume of 397,075. 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 fifty day moving average of $10.09 and a 200-day moving average of $9.53. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -22.61 and a beta of 1.41.

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 the consensus estimate of $0.22 by ($0.08). Bridge Investment Group had a negative net margin of 3.03% and a positive return on equity of 8.42%. The business had revenue of $73.23 million during the quarter, compared to analyst estimates of $75.50 million. Sell-side analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.045 per share. This represents a dividend yield of 179.0%. The ex-dividend date is Friday, August 15th. Bridge Investment Group's dividend payout ratio is presently -42.86%.

Wall Street Analyst Weigh In

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

About Bridge Investment Group

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.