Carmignac Gestion Acquires 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 bought a new stake in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 94,014 shares of the company's stock, valued at approximately $901,000. Carmignac Gestion owned approximately 0.08% of Bridge Investment Group at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BRDG. Lord Abbett & CO. LLC lifted its position in shares of 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 purchasing an additional 141,178 shares during the last quarter. DigitalBridge Group Inc. lifted its position in shares of 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 purchasing an additional 99,520 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Bridge Investment Group by 5,757.2% during the first quarter. EverSource Wealth Advisors LLC now owns 298,539 shares of the company's stock worth $2,860,000 after purchasing an additional 293,442 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bridge Investment Group by 18.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 212,364 shares of the company's stock worth $1,784,000 after purchasing an additional 33,378 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new position in shares of Bridge Investment Group during the first quarter worth about $1,336,000. 52.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Bridge Investment Group news, 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 value of $40,651.05. Following the sale, the chief operating officer owned 527,129 shares in the company, valued at approximately $5,613,923.85. This trade 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 can be accessed through this link. Also, Vice Chairman Dean Allara sold 6,743 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 $71,812.95. Following the completion of the sale, the insider owned 643,200 shares in the company, valued at $6,850,080. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,949 shares of company stock worth $1,458,376 over the last ninety days. 73.00% of the stock is owned by company insiders.

Bridge Investment Group Stock Performance

NYSE BRDG traded up $0.0850 during trading hours on Monday, reaching $9.5850. The company's stock had a trading volume of 103,437 shares, compared to its average volume of 397,400. 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 business has a 50-day simple moving average of $10.09 and a 200 day simple moving average of $9.54. Bridge Investment Group Holdings Inc. has a 52 week low of $7.12 and a 52 week high of $11.69. The stock has a market cap of $1.19 billion, a PE ratio of -22.82 and a beta of 1.41.

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

Bridge Investment Group Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a $0.045 dividend. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 179.0%. Bridge Investment Group's dividend payout ratio (DPR) is presently -42.86%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company increased their price target on shares of 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $10.70.

Bridge Investment Group Company 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.