Bridge Investment Group Holdings Inc. (NYSE:BRDG) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its holdings in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,259 shares of the company’s stock after acquiring an additional 1,772 shares during the quarter. Raymond James & Associates’ holdings in Bridge Investment Group were worth $149,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in Bridge Investment Group by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 218,284 shares of the company’s stock valued at $2,008,000 after acquiring an additional 1,735 shares during the last quarter. GW Henssler & Associates Ltd. purchased a new position in Bridge Investment Group during the third quarter worth about $103,000. Jump Financial LLC purchased a new position in shares of Bridge Investment Group during the 3rd quarter worth about $121,000. Barclays PLC boosted its holdings in shares of Bridge Investment Group by 45.3% in the 3rd quarter. Barclays PLC now owns 84,284 shares of the company’s stock valued at $776,000 after purchasing an additional 26,294 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Bridge Investment Group by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,619,156 shares of the company’s stock valued at $24,096,000 after buying an additional 30,787 shares during the period. Institutional investors and hedge funds own 52.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BRDG shares. JPMorgan Chase & Co. cut their price objective on Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Wells Fargo & Company reduced their target price 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. UBS Group cut their price objective on Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating on the stock in a research report on Friday, March 15th. TD Cowen assumed coverage on Bridge Investment Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $11.00 price objective on the stock. Finally, Morgan Stanley lowered their target price on Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, February 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.67.

Bridge Investment Group Stock Performance

Shares of BRDG stock opened at $6.69 on Thursday. The company’s fifty day moving average price is $6.82 and its two-hundred day moving average price is $7.97. 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 has a market capitalization of $809.94 million, a P/E ratio of -14.89 and a beta of 1.61. Bridge Investment Group Holdings Inc. has a 12 month low of $6.18 and a 12 month high of $13.07.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Bridge Investment Group had a negative net margin of 1.73% and a positive return on equity of 9.14%. The business had revenue of $70.52 million during the quarter, compared to analysts’ expectations of $78.55 million. On average, research analysts anticipate 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 declared 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. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.28 annualized dividend and a dividend yield of 4.19%. Bridge Investment Group’s payout ratio is -62.22%.

Bridge Investment Group 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.