Bridge Investment Group Holdings Inc. $BRDG Shares Acquired by EverSource Wealth Advisors LLC

Key Points

• EverSource Wealth Advisors LLC significantly increased its holdings in Bridge Investment Group by acquiring 293,442 shares, raising its position by 5,757.2% in the first quarter.
• Bridge Investment Group's recent earnings report showed an EPS of $0.14, which was below the consensus estimate of $0.22, with revenues of $73.23 million, also short of expectations.
• The company announced a dividend of $0.045 per share set to be paid on August 29, representing a high yield but also reflecting a negative dividend payout ratio of -80.95%.

EverSource Wealth Advisors LLC grew its holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 5,757.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 298,539 shares of the company's stock after acquiring an additional 293,442 shares during the quarter. EverSource Wealth Advisors LLC owned 0.24% of Bridge Investment Group worth $2,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BRDG. Lord Abbett & CO. LLC boosted its position in Bridge Investment Group by 17.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 964,060 shares of the company's stock valued at $8,098,000 after buying an additional 141,178 shares during the last quarter. DigitalBridge Group Inc. boosted its position in Bridge Investment Group by 24.4% in the fourth quarter. DigitalBridge Group Inc. now owns 508,035 shares of the company's stock valued at $4,267,000 after buying an additional 99,520 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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 buying an additional 33,378 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Bridge Investment Group in the first quarter valued at approximately $1,336,000. Finally, Kovitz Investment Group Partners LLC boosted its position in Bridge Investment Group by 1.1% in the first quarter. Kovitz Investment Group Partners LLC now owns 102,304 shares of the company's stock valued at $980,000 after buying an additional 1,116 shares during the last quarter. Institutional investors and hedge funds own 52.83% of the company's stock.

Bridge Investment Group Stock Performance

NYSE:BRDG traded down $0.1070 during trading hours on Thursday, reaching $9.4730. The company had a trading volume of 133,569 shares, compared to its average volume of 397,507. Bridge Investment Group Holdings Inc. has a 1-year low of $7.12 and a 1-year high of $11.69. The firm has a market cap of $1.18 billion, a PE ratio of -22.51 and a beta of 1.41. The business's 50 day moving average price is $10.09 and its 200-day moving average price is $9.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.10 and a quick ratio of 1.10.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last announced its quarterly 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 negative net margin of 3.03% and a positive return on equity of 8.42%. The company had revenue of $73.23 million during the quarter, compared to analyst estimates of $75.50 million. Research analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Bridge Investment Group Dividend Announcement

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

Analysts Set New Price Targets

Separately, Wells Fargo & Company upped their target price 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, Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $10.70.

Insider Buying and Selling

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 27,749 shares of the business's 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 of the company's stock, valued at approximately $32,780,295.30. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adam O'farrell sold 3,817 shares of the company's 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 directly owned 527,129 shares of the company's stock, valued at approximately $5,613,923.85. The trade was a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,949 shares of company stock valued at $1,458,376. Insiders own 65.90% of the company's stock.

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.