Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Update

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 979,900 shares, a growth of 145.6% from the March 15th total of 399,000 shares. Based on an average trading volume of 298,700 shares, the days-to-cover ratio is currently 3.3 days. Currently, 2.8% of the company's shares are sold short.

Institutional Investors Weigh In On Bridge Investment Group

Several institutional investors have recently added to or reduced their stakes in BRDG. Jennison Associates LLC increased its position in Bridge Investment Group by 3.9% during the third quarter. Jennison Associates LLC now owns 3,083,410 shares of the company's stock worth $28,367,000 after buying an additional 115,347 shares during the period. Vanguard Group Inc. increased its position in Bridge Investment Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 2,662,939 shares of the company's stock worth $26,044,000 after buying an additional 43,783 shares during the period. Burgundy Asset Management Ltd. increased its position in Bridge Investment Group by 1.6% during the third quarter. Burgundy Asset Management Ltd. now owns 2,353,336 shares of the company's stock worth $21,651,000 after buying an additional 36,193 shares during the period. Morgan Stanley increased its position in Bridge Investment Group by 1.1% during the fourth quarter. Morgan Stanley now owns 1,924,922 shares of the company's stock worth $23,195,000 after buying an additional 20,705 shares during the period. Finally, 1832 Asset Management L.P. increased its position in Bridge Investment Group by 2.5% during the first quarter. 1832 Asset Management L.P. now owns 1,810,680 shares of the company's stock worth $36,346,000 after buying an additional 44,118 shares during the period. Hedge funds and other institutional investors own 52.83% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BRDG. Wells Fargo & Company lowered their target price on Bridge Investment Group from $12.00 to $10.00 and set an "overweight" rating for the company in a report on Friday, February 23rd. JPMorgan Chase & Co. decreased their price objective on Bridge Investment Group from $13.50 to $11.50 and set an "overweight" rating for the company in a research note on Friday, February 23rd. Morgan Stanley decreased their price objective on Bridge Investment Group from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Monday, February 26th. UBS Group decreased their price objective on Bridge Investment Group from $9.50 to $6.50 and set a "neutral" rating for the company in a research note on Friday, March 15th. Finally, TD Cowen assumed coverage on Bridge Investment Group in a research note on Thursday, January 4th. They issued an "outperform" rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.67.

Bridge Investment Group Stock Down 3.0 %

BRDG stock traded down $0.21 during trading on Thursday, hitting $6.70. 315,293 shares of the company's stock were exchanged, compared to its average volume of 300,308. The business has a 50-day moving average price of $7.42 and a two-hundred day moving average price of $8.17. The stock has a market capitalization of $811.17 million, a price-to-earnings ratio of -14.89 and a beta of 1.61. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $13.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.82.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). The business had revenue of $70.52 million for the quarter, compared to analysts' expectations of $78.55 million. Bridge Investment Group had a positive return on equity of 9.14% and a negative net margin of 1.73%. As a group, equities research analysts expect that Bridge Investment Group will post 0.78 EPS for the current year.

Bridge Investment Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, March 7th. Bridge Investment Group's payout ratio is -62.22%.

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.