279,799 Shares in Bridge Investment Group Holdings Inc. $BRDG Acquired by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC acquired 279,799 shares of Bridge Investment Group Holdings Inc., valued at approximately $2.68 million, representing a 0.23% ownership stake by the end of the quarter.
• Multiple institutional investors increased their holdings in Bridge Investment Group, contributing to a total of 52.83% of the shares currently owned by institutional investors.
• Bridge Investment Group recently declared a quarterly dividend of $0.045 per share, translating to an annualized yield of 1.9%, despite posting earnings that missed consensus estimates.

Magnetar Financial LLC acquired a new position in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 279,799 shares of the company's stock, valued at approximately $2,680,000. Magnetar Financial LLC owned about 0.23% of Bridge Investment Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC increased its position in Bridge Investment Group by 107.1% in the 1st quarter. AlphaQuest LLC now owns 5,290 shares of the company's stock valued at $51,000 after acquiring an additional 2,736 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Bridge Investment Group during the first quarter worth approximately $63,000. EP Wealth Advisors LLC purchased a new stake in shares of Bridge Investment Group during the fourth quarter worth approximately $89,000. Aquatic Capital Management LLC purchased a new stake in shares of Bridge Investment Group during the fourth quarter worth approximately $95,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Bridge Investment Group during the fourth quarter worth approximately $168,000. Hedge funds and other institutional investors own 52.83% of the company's stock.

Bridge Investment Group Price Performance

Shares of NYSE:BRDG traded down $0.18 during trading on Thursday, hitting $9.46. 5,858,957 shares of the stock were exchanged, compared to its average volume of 722,382. The company has a fifty day moving average price of $10.10 and a two-hundred day moving average price of $9.62. The company has a market cap of $1.18 billion, a PE ratio of -22.52 and a beta of 1.40. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.99. Bridge Investment Group Holdings Inc. has a 12-month low of $7.12 and a 12-month high of $11.69.

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

Bridge Investment Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.045 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.18 annualized dividend and a dividend yield of 1.9%. Bridge Investment Group's payout ratio is -42.86%.

Insider Transactions at Bridge Investment Group

In related news, CEO Jonathan Slager sold 9,562 shares of Bridge Investment Group 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 $101,835.30. Following the completion of the transaction, the chief executive officer directly owned 912,067 shares in the company, valued at $9,713,513.55. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Dean Allara sold 6,743 shares of Bridge Investment Group 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 $71,812.95. Following the transaction, the insider owned 643,200 shares of the company's stock, valued at $6,850,080. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,949 shares of company stock worth $1,458,376 over the last quarter. Insiders own 65.90% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lifted their price objective on Bridge Investment Group from $10.00 to $10.50 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently 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.