Royce & Associates LP Has $6.98 Million Holdings in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Key Points

• Royce & Associates LP has reduced its stake in Bridge Investment Group Holdings Inc. by 27.1%, selling 271,030 shares and now holding approximately 0.59% of the company's stock valued at about $6.98 million.
• Wells Fargo & Company raised their price target for Bridge Investment Group to $10.50, while the stock currently has a consensus rating of "Hold" with a target price of $10.70.
• Insider transactions include the sale of 27,749 shares by Chairman Robert Randolph Morse at an average price of $10.65, as company insiders currently hold 65.90% of the stock.

Royce & Associates LP trimmed its stake in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 728,596 shares of the company's stock after selling 271,030 shares during the period. Royce & Associates LP owned about 0.59% of Bridge Investment Group worth $6,980,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new stake in Bridge Investment Group in the 1st quarter worth about $400,000. Northern Trust Corp lifted its stake in Bridge Investment Group by 19.2% in the 4th quarter. Northern Trust Corp now owns 89,937 shares of the company's stock worth $755,000 after acquiring an additional 14,481 shares in the last quarter. Norges Bank purchased a new stake in Bridge Investment Group in the 4th quarter worth about $597,000. EntryPoint Capital LLC purchased a new stake in Bridge Investment Group in the 4th quarter worth about $133,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Bridge Investment Group by 18.6% during the 4th 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 in the last quarter. 52.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Bridge Investment Group Stock Down 0.4%

Shares of BRDG traded down $0.04 during midday trading on Wednesday, reaching $10.37. 22,438 shares of the stock were exchanged, compared to its average volume of 393,019. Bridge Investment Group Holdings Inc. has a 12-month low of $7.09 and a 12-month high of $11.69. The firm has a 50 day simple moving average of $9.87 and a 200-day simple moving average of $9.27. 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 $1.28 billion, a price-to-earnings ratio of -19.93 and a beta of 1.41.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.08). The company had revenue of $71.80 million for the quarter, compared to analyst estimates of $77.60 million. Bridge Investment Group had a negative net margin of 3.45% and a positive return on equity of 10.07%. Research analysts forecast that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jonathan Slager sold 9,562 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $10.65, for a total transaction of $101,835.30. Following the transaction, the chief executive officer owned 912,067 shares of the company's stock, valued at approximately $9,713,513.55. This represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 value of $71,812.95. Following the completion of the sale, the insider directly owned 643,200 shares in the company, valued at $6,850,080. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,949 shares of company stock worth $1,458,376. Insiders own 73.00% 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.