Jennison Associates LLC Decreases Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Jennison Associates LLC trimmed its holdings in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 56.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,471,795 shares of the company's stock after selling 1,930,680 shares during the period. Jennison Associates LLC owned about 1.19% of Bridge Investment Group worth $14,100,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in BRDG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Bridge Investment Group in the first quarter valued at $63,000. EP Wealth Advisors LLC bought a new position in Bridge Investment Group during the fourth quarter worth about $89,000. Aquatic Capital Management LLC bought a new position in Bridge Investment Group during the fourth quarter worth about $95,000. EntryPoint Capital LLC purchased a new position in shares of Bridge Investment Group in the fourth quarter worth about $133,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Bridge Investment Group in the fourth quarter valued at approximately $168,000. Institutional investors own 52.83% of the company's stock.

Analyst Ratings Changes

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

Insider Activity at Bridge Investment Group

In related news, Chairman Robert Randolph Morse sold 27,749 shares of the company's stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Dean Allara sold 6,743 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total value of $71,812.95. Following the completion of 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. Over the last three months, insiders sold 137,949 shares of company stock valued at $1,458,376. Company insiders own 65.90% of the company's stock.

Bridge Investment Group Price Performance

NYSE:BRDG traded down $0.02 during mid-day trading on Thursday, hitting $10.72. 320,588 shares of the stock traded hands, compared to its average volume of 586,557. Bridge Investment Group Holdings Inc. has a 12-month low of $7.09 and a 12-month high of $11.69. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.33 billion, a PE ratio of -20.61 and a beta of 1.41. The business's 50-day moving average price is $9.84 and its 200 day moving average price is $9.19.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.08). Bridge Investment Group had a negative net margin of 3.45% and a positive return on equity of 10.07%. The business had revenue of $71.80 million during the quarter, compared to analysts' expectations of $77.60 million. On average, analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal year.

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.