Dean Allara Sells 10,877 Shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG) Stock

Bridge Investment Group Holdings Inc. (NYSE:BRDG) Vice Chairman Dean Allara sold 10,877 shares of Bridge Investment Group stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $8.31, for a total transaction of $90,387.87. Following the transaction, the insider now directly owns 662,473 shares of the company’s stock, valued at approximately $5,505,150.63. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Dean Allara also recently made the following trade(s):

• On Thursday, January 2nd, Dean Allara sold 10,438 shares of Bridge Investment Group stock. The shares were sold at an average price of $8.29, for a total transaction of $86,531.02.

Bridge Investment Group Stock Down 10.0 %

Shares of NYSE:BRDG opened at $7.47 on Wednesday. The firm has a 50 day simple moving average of $9.43 and a 200-day simple moving average of $8.89. The company has a market capitalization of $904.50 million, a PE ratio of 186.80 and a beta of 1.57. Bridge Investment Group Holdings Inc. has a twelve month low of $6.18 and a twelve month high of $11.69. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The business had revenue of $101.51 million for the quarter, compared to analysts’ expectations of $85.00 million. During the same quarter last year, the business posted $0.22 earnings per share. On average, equities analysts predict that Bridge Investment Group Holdings Inc. will post 0.68 EPS for the current fiscal year.

Bridge Investment Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date was Friday, December 6th. Bridge Investment Group’s dividend payout ratio (DPR) is currently 1,000.00%.

Analysts Set New Price Targets

BRDG has been the topic of several recent analyst reports. Morgan Stanley lowered shares of 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 research note on Friday, November 8th. UBS Group increased their price target on Bridge Investment Group from $7.00 to $11.00 and gave the stock 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 for the company in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their price objective 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, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.70.

Institutional Investors Weigh In On Bridge Investment Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. increased its stake in shares of Bridge Investment Group by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,286,847 shares of the company’s stock worth $13,383,000 after purchasing an additional 14,235 shares in the last quarter. Geode Capital Management LLC increased its stake in Bridge Investment Group by 11.2% in the third quarter. Geode Capital Management LLC now owns 407,709 shares of the company’s stock valued at $4,026,000 after purchasing an additional 40,975 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Bridge Investment Group during the 3rd quarter valued at about $127,000. Jane Street Group LLC acquired a new position in Bridge Investment Group during the third quarter worth approximately $102,000. Finally, State Street Corp increased its holdings in shares of Bridge Investment Group by 12.0% during the 3rd quarter. State Street Corp now owns 128,711 shares of the company’s stock worth $1,270,000 after buying an additional 13,800 shares during the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

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.