Royce & Associates LP Increases Stock Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Royce & Associates LP raised its position in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 29.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 999,626 shares of the company’s stock after buying an additional 226,396 shares during the period. Royce & Associates LP owned about 0.83% of Bridge Investment Group worth $8,397,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BRDG. Quest Partners LLC acquired a new stake in shares of Bridge Investment Group during the 3rd quarter valued at about $448,000. Jennison Associates LLC grew its holdings in Bridge Investment Group by 2.3% in the third quarter. Jennison Associates LLC now owns 3,370,882 shares of the company’s stock valued at $33,271,000 after purchasing an additional 74,779 shares during the period. FMR LLC increased its position in shares of Bridge Investment Group by 288.0% in the third quarter. FMR LLC now owns 1,509,690 shares of the company’s stock valued at $14,901,000 after buying an additional 1,120,549 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Bridge Investment Group during the 3rd quarter worth approximately $638,000. Finally, Paloma Partners Management Co purchased a new position in shares of Bridge Investment Group during the 3rd quarter valued at approximately $110,000. Institutional investors and hedge funds own 52.83% of the company’s stock.

Wall Street Analysts Forecast Growth

BRDG has been the subject of several recent analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Wells Fargo & Company cut shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $10.00 to $11.50 in a research note on Thursday, February 27th. Finally, UBS Group raised their price target on shares of Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.90.

Insiders Place Their Bets

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 45,343 shares of the firm’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 $375,893.47. Following the completion of the sale, the chairman now owns 3,249,076 shares of the company’s stock, valued at $26,934,840.04. This trade represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Dean Allara sold 10,438 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $86,531.02. Following the completion of the transaction, the insider now directly owns 683,606 shares in the company, valued at approximately $5,667,093.74. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 145,187 shares of company stock valued at $1,204,966 in the last three months. 65.90% of the stock is currently owned by insiders.

Bridge Investment Group Price Performance

Shares of NYSE BRDG opened at $9.60 on Wednesday. The firm has a 50-day simple moving average of $8.50 and a 200-day simple moving average of $9.15. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 240.06 and a beta of 1.47. Bridge Investment Group Holdings Inc. has a 52 week low of $6.21 and a 52 week high of $11.69.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings data on Monday, February 24th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $81.96 million during the quarter, compared to the consensus estimate of $82.02 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. On average, equities analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 4.58%. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s payout ratio is 488.89%.

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.