Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Update

Bridge Investment Group Holdings Inc. (NYSE:BRDG) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 567,700 shares, an increase of 23.9% from the September 30th total of 458,100 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 200,200 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Trading of Bridge Investment Group

Hedge funds have recently modified their holdings of the company. Quarry LP boosted its stake in Bridge Investment Group by 22.5% in the second quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after acquiring an additional 1,535 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Bridge Investment Group by 22.0% during the second quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock worth $852,000 after purchasing an additional 20,726 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Bridge Investment Group by 21.7% during the second quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock worth $1,273,000 after purchasing an additional 30,620 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Bridge Investment Group by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Albion Financial Group UT bought a new position in shares of Bridge Investment Group during the second quarter worth $37,000. Institutional investors and hedge funds own 52.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BRDG. Morgan Stanley raised their target price on Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. UBS Group lifted their price target on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen downgraded Bridge Investment Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $10.00 to $10.50 in a research note on Monday, October 14th. Finally, Wells Fargo & Company raised their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.70.

Bridge Investment Group Stock Up 2.3 %

Shares of NYSE:BRDG traded up $0.24 during trading on Wednesday, reaching $10.90. 102,009 shares of the company traded hands, compared to its average volume of 233,769. The firm has a fifty day simple moving average of $9.35 and a 200 day simple moving average of $8.13. The firm has a market cap of $1.32 billion, a P/E ratio of -96.91 and a beta of 1.65. Bridge Investment Group has a 1-year low of $6.18 and a 1-year high of $10.95. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.85.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. The business had revenue of $104.76 million during the quarter, compared to analyst estimates of $79.05 million. During the same quarter in the previous year, the business earned $0.20 EPS. Analysts anticipate that Bridge Investment Group will post 0.77 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.12. Bridge Investment Group’s dividend payout ratio is -472.73%.

Bridge Investment Group Company 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.