Dean Allara Sells 10,438 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Vice Chairman Dean Allara sold 10,438 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $86,531.02. Following the transaction, the insider now owns 683,606 shares in the company, valued at approximately $5,667,093.74. The trade was a 1.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Dean Allara also recently made the following trade(s):

• On Monday, January 6th, Dean Allara sold 10,877 shares of Bridge Investment Group stock. The shares were sold at an average price of $8.31, for a total transaction of $90,387.87.

Bridge Investment Group Stock Down 10.0 %

Bridge Investment Group stock opened at $7.47 on Wednesday. The firm has a market capitalization of $904.50 million, a price-to-earnings ratio of 186.80 and a beta of 1.57. The firm has a 50 day simple moving average of $9.43 and a 200 day simple moving average of $8.89. Bridge Investment Group Holdings Inc. has a 1-year low of $6.18 and a 1-year high of $11.69. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The company had revenue of $101.51 million during the quarter, compared to the consensus estimate of $85.00 million. During the same quarter in the prior year, the business earned $0.22 EPS. On average, analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.40 annualized dividend and a dividend yield of 5.35%. Bridge Investment Group’s payout ratio is currently 1,000.00%.

Institutional Investors Weigh In On Bridge Investment Group

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in shares of Bridge Investment Group by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after purchasing an additional 1,735 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Bridge Investment Group by 21.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock valued at $1,273,000 after buying an additional 30,620 shares in the last quarter. Marshall Wace LLP grew its position in Bridge Investment Group by 22.0% in the second quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock worth $852,000 after acquiring an additional 20,726 shares in the last quarter. Quarry LP increased its stake in Bridge Investment Group by 22.5% in the second quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after acquiring an additional 1,535 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in Bridge Investment Group by 1.2% during the third quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after purchasing an additional 8,909 shares during the last quarter. Institutional investors own 52.83% of the company’s stock.

Analyst Upgrades and Downgrades

BRDG has been the subject of a number of analyst reports. TD Cowen cut their price target on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $14.00 to $11.00 in a research report on Friday, November 8th. UBS Group boosted their target price on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price objective on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.70.

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.