Bridge Investment Group (NYSE:BRDG) Stock Price Up 3.4%

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) shares shot up 3.4% during mid-day trading on Friday . The company traded as high as $6.93 and last traded at $6.93. 109,503 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 297,441 shares. The stock had previously closed at $6.70.

Analyst Upgrades and Downgrades

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

Bridge Investment Group Stock Performance

The stock has a market cap of $835.38 million, a P/E ratio of -15.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.00 and a quick ratio of 1.00. The firm's 50-day moving average price is $7.42 and its 200-day moving average price is $8.17.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.04). The company had revenue of $70.52 million for the quarter, compared to the consensus estimate of $78.55 million. Bridge Investment Group had a negative net margin of 1.73% and a positive return on equity of 9.14%. Sell-side analysts expect that Bridge Investment Group Holdings Inc. will post 0.78 earnings per share for the current fiscal year.

Bridge Investment Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, March 7th. Bridge Investment Group's payout ratio is currently -62.22%.

Institutional Investors Weigh In On Bridge Investment Group

Several institutional investors and hedge funds have recently modified their holdings of BRDG. Balyasny Asset Management L.P. increased its position in Bridge Investment Group by 324.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 824,529 shares of the company's stock worth $8,064,000 after purchasing an additional 630,113 shares during the last quarter. Vanguard Group Inc. increased its position in Bridge Investment Group by 26.5% in the first quarter. Vanguard Group Inc. now owns 2,075,765 shares of the company's stock worth $42,241,000 after purchasing an additional 434,346 shares during the last quarter. Thornburg Investment Management Inc. bought a new stake in Bridge Investment Group in the fourth quarter worth $2,724,000. Schonfeld Strategic Advisors LLC bought a new stake in Bridge Investment Group in the second quarter worth $2,373,000. Finally, Lord Abbett & CO. LLC increased its position in Bridge Investment Group by 39.0% in the first quarter. Lord Abbett & CO. LLC now owns 557,049 shares of the company's stock worth $11,336,000 after purchasing an additional 156,156 shares during the last quarter. Institutional investors own 52.83% 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.