Cornercap Investment Counsel Inc. Lowers Stock Position in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Cornercap Investment Counsel Inc. reduced its stake in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 49.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,514 shares of the company’s stock after selling 38,878 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Bridge Investment Group were worth $390,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Albion Financial Group UT purchased a new stake in shares of Bridge Investment Group during the 2nd quarter worth approximately $37,000. Quarry LP increased its position in shares of Bridge Investment Group by 22.5% during the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after purchasing an additional 1,535 shares during the last quarter. HBK Sorce Advisory LLC increased its position in shares of Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after purchasing an additional 4,035 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 purchasing an additional 1,735 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Bridge Investment Group by 22.0% during the 2nd quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock valued at $852,000 after purchasing an additional 20,726 shares during the last quarter. 52.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. UBS Group upped their price objective on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen cut their price objective on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Wells Fargo & Company upped their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bridge Investment Group presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Bridge Investment Group Stock Up 0.2 %

Shares of BRDG stock opened at $9.57 on Friday. The stock’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $8.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $1.16 billion, a PE ratio of 239.25 and a beta of 1.63. Bridge Investment Group Holdings Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $11.69.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The firm had revenue of $101.51 million during the quarter, compared to analyst estimates of $85.00 million. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. During the same period in the prior year, the company posted $0.22 earnings per share. Equities analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 4.18%. Bridge Investment Group’s dividend payout ratio is currently 1,000.00%.

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.