Katherine Elsnab Sells 3,078 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stock

The Chief Financial Officer of Bridge Investment Group Holdings Inc. (NYSE:BRDG), Katherine Elsnab, sold 3,078 shares of the company's stock on Thursday, January 2nd. This transaction occurred at an average price of $8.29 per share, totaling $25,516.62. After this sale, Elsnab now directly owns 303,937 shares in the company, which is valued at approximately $2,519,637.73. This sale represents a decrease of 1.00% in her holdings. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission, which can be accessed online.

Additionally, Katherine Elsnab made another notable trade on Monday, January 6th, where she sold 3,206 shares of Bridge Investment Group stock at an average price of $8.31, resulting in a total value of $26,641.86.

Bridge Investment Group Stock Performance

On the following Monday, shares of Bridge Investment Group traded up by 0.2%, reaching a price of $8.27. During this time, 519,523 shares changed hands, which was significantly higher than its average trading volume of 313,608 shares. The company currently has a market capitalization of $1.00 billion, a price-to-earnings (PE) ratio of 206.80, and a beta of 1.57. Moreover, the firm has a current ratio and a quick ratio both standing at 1.14, and its debt-to-equity ratio is 0.86. Over the last 50 days, the simple moving average price has been $9.49, while the two-hundred-day average is $8.89. The company's shares have seen a 12-month low of $6.18 and a high of $11.69.

Bridge Investment Group, last reported its quarterly earnings results on November 6th, where it disclosed earnings per share (EPS) of $0.15. This result fell short of the consensus estimate of $0.18 by $0.03. The company's reported revenue was $101.51 million, which exceeded analyst estimates of $85.00 million. Bridge Investment Group's return on equity was 9.91%, while it maintained a net margin of 1.92%. Comparatively, the same quarter in the previous year reflected an EPS of $0.22. Analysts predict that the firm will post an EPS of 0.68 for the current fiscal year.

Dividend Announcement by Bridge Investment Group

Recently, the company declared a quarterly dividend which was paid on December 20th. Shareholders on record as of December 6th received a dividend of $0.10. The ex-dividend date also fell on December 6th. This translates to an annualized dividend of $0.40, offering a dividend yield of 4.84%. However, it is noteworthy that Bridge Investment Group's dividend payout ratio (DPR) currently stands at an astonishing 1,000.00%.

Institutional Investments in Bridge Investment Group

Hedge funds have made several adjustments to their holdings in Bridge Investment Group recently. For instance, Quarry LP increased its position in the firm by 22.5% during the second quarter and now holds 8,350 shares valued at approximately $62,000 after acquiring an additional 1,535 shares last quarter. Additionally, Jane Street Group LLC entered into a new investment in the third quarter, which is valued at around $102,000. Other hedge funds, including Paloma Partners Management Co and Quest Partners LLC, also made new investments in the third quarter worth approximately $110,000 and $448,000, respectively. Presently, 52.83% of Bridge Investment Group's stock is owned by institutional investors and hedge funds.

Recent Analyst Ratings and Price Targets

Bridge Investment Group's stock, BRDG, has been recently evaluated in several research analyst reports. Morgan Stanley downgraded the stock from “overweight” to “equal weight,” adjusting the target price from $14.00 to $11.00 in a report released on November 8th. Meanwhile, UBS Group raised their price objective for Bridge Investment Group from $7.00 to $11.00, assigning a “neutral” rating in a report dated October 22nd. Wells Fargo & Company also increased their target price from $11.00 to $11.50, providing an “overweight” rating in a report published on October 9th. Furthermore, TD Cowen decreased their price target from $10.50 to $10.00 in a report released on November 12th, maintaining a “hold” rating on the stock. So far, three analysts have rated the stock as a hold, while two have provided a buy recommendation. According to MarketBeat, there is a consensus rating of “Hold” with an average target price of $11.00 for the stock.

About Bridge Investment Group

Bridge Investment Group Holdings Inc. operates in the real estate investment management sector in the United States. It manages capital for a wide range of approximately 100 global institutions and 6,500 individual investors through about 25 investment vehicles. The company, which was founded in 2009, is based in Salt Lake City, Utah.

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