Ieq Capital LLC Purchases New Stake in Bridge Investment Group Holdings Inc. $BRDG

Key Points

• Ieq Capital LLC acquired 80,167 shares of Bridge Investment Group Holdings Inc. valued at approximately $768,000, increasing its stake to 0.06%.
• Insider selling occurred on July 23rd, with Vice Chairman Dean Allara and CEO Jonathan Slager both reducing their ownership by 1.04% through the sale of shares.
• Wells Fargo & Company raised its target price for the stock from $10.00 to $10.50, maintaining an "equal weight" rating, as analysts see a consensus rating of "Hold" for the shares.

Ieq Capital LLC acquired a new position in shares of 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 acquired 80,167 shares of the company's stock, valued at approximately $768,000. Ieq Capital LLC owned about 0.06% of Bridge Investment Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. DigitalBridge Group Inc. increased its holdings 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 buying an additional 99,520 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in 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 buying an additional 293,442 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 33,378 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Bridge Investment Group during the first quarter worth about $1,336,000. Finally, Kovitz Investment Group Partners LLC increased its holdings in Bridge Investment Group by 1.1% during the first quarter. Kovitz Investment Group Partners LLC now owns 102,304 shares of the company's stock worth $980,000 after buying an additional 1,116 shares during the last quarter. Hedge funds and other institutional investors own 52.83% of the company's stock.

Bridge Investment Group Price Performance

NYSE:BRDG traded down $0.18 during mid-day trading on Friday, hitting $9.46. 5,858,957 shares of the stock traded hands, compared to its average volume of 722,382. The business's 50-day moving average price is $10.08 and its 200 day moving average price is $9.64. The company has a market cap of $1.18 billion, a PE ratio of -22.52 and a beta of 1.40. Bridge Investment Group Holdings Inc. has a 12-month low of $7.12 and a 12-month high of $11.69. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.99.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.08). The firm had revenue of $73.23 million for the quarter, compared to analysts' expectations of $75.50 million. Bridge Investment Group had a negative net margin of 3.03% and a positive return on equity of 8.42%. On average, analysts expect 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 quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.045 per share. The ex-dividend date was Friday, August 15th. This represents a $0.18 annualized dividend and a dividend yield of 1.9%. Bridge Investment Group's dividend payout ratio (DPR) is -42.86%.

Insider Activity at Bridge Investment Group

In related news, COO Adam O'farrell sold 3,817 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Slager sold 9,562 shares of Bridge Investment Group stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $10.65, for a total value of $101,835.30. Following the sale, the chief executive officer directly owned 912,067 shares of the company's stock, valued at approximately $9,713,513.55. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,949 shares of company stock valued at $1,458,376. 65.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lifted 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 research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Bridge Investment Group presently 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.