Bridge Investment Group Holdings Inc. (NYSE:BRDG) COO Adam O’farrell Sells 6,655 Shares

Bridge Investment Group Holdings Inc. (NYSE:BRDG) COO Adam O’farrell sold 6,655 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $55,169.95. Following the completion of the transaction, the chief operating officer now directly owns 551,512 shares in the company, valued at $4,572,034.48. The trade was a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Adam O’farrell also recently made the following trade(s):

• On Monday, January 6th, Adam O’farrell sold 6,935 shares of Bridge Investment Group stock. The stock was sold at an average price of $8.31, for a total transaction of $57,629.85.

Bridge Investment Group Price Performance

Shares of Bridge Investment Group stock opened at $7.47 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. Bridge Investment Group Holdings Inc. has a 52 week low of $6.18 and a 52 week high of $11.69. The stock’s 50-day simple moving average is $9.43 and its 200-day simple moving average is $8.89. The company has a market capitalization of $904.50 million, a price-to-earnings ratio of 186.80 and a beta of 1.57.

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

Bridge Investment Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders 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 dividend on an annualized basis and a yield of 5.35%. Bridge Investment Group’s dividend payout ratio is currently 1,000.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP increased its holdings in shares of Bridge Investment Group by 22.5% in the second quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after purchasing an additional 1,535 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Bridge Investment Group by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after buying an additional 1,735 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Bridge Investment Group by 1.2% during the 3rd quarter. Royce & Associates LP now owns 773,230 shares of the company’s stock worth $7,632,000 after acquiring an additional 8,909 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Bridge Investment Group during the 3rd quarter valued at approximately $102,000. Finally, Paloma Partners Management Co purchased a new position in shares of Bridge Investment Group in the third quarter valued at $110,000. Institutional investors own 52.83% of the company’s stock.

Wall Street Analyst Weigh In

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

About Bridge Investment Group

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.