Katherine Elsnab Sells 3,078 Shares of Bridge Investment Group Holdings Inc.
Bridge Investment Group Holdings Inc. (NYSE:BRDG) recently saw its Chief Financial Officer, Katherine Elsnab, sell 3,078 shares of company stock on Thursday, January 2nd. The shares were sold at an average price of $8.29 each, amounting to a total transaction value of $25,516.62. After this sale, Elsnab now directly holds 303,937 shares in the company, with a current valuation of approximately $2,519,637.73. This transaction signifies a 1.00% reduction in her ownership stake. Details of the sale were disclosed in a filing made to the Securities and Exchange Commission (SEC), which can be accessed on the SEC's website.
In addition to this sale, on Monday, January 6th, Katherine Elsnab sold another 3,206 shares of Bridge Investment Group stock. These shares were sold at an average price of $8.31 each, resulting in a total value of $26,641.86.
Market Performance of Bridge Investment Group
During midday trading on Monday, Bridge Investment Group shares increased by $0.02, reaching a price of $8.27. A total of 519,523 shares were traded, which is significantly above the company’s average trading volume of 313,608 shares. Presently, Bridge Investment Group holds a market capitalization of $1.00 billion, with a price-to-earnings (PE) ratio of 206.80 and a beta of 1.57. The firm reports a current ratio and quick ratio of both 1.14, along with a debt-to-equity ratio of 0.86. Currently, the company has a 50-day simple moving average of $9.49 and a two-hundred-day simple moving average of $8.89. In the past year, the stock has experienced a low of $6.18 and a high of $11.69.
Recent Earnings Results
Bridge Investment Group most recently released its quarterly earnings on November 6th. The company reported earnings per share (EPS) of $0.15, which was lower than market expectations of $0.18, missing the estimate by $0.03. The company reported revenue of $101.51 million for the quarter, exceeding analyst expectations set at $85.00 million. The firm achieved a return on equity of 9.91% and a net margin of 1.92%. In the same quarter the previous year, Bridge Investment Group reported an EPS of $0.22. Analysts anticipate that the company will report EPS of 0.68 for the current fiscal year.
Dividend Information
Bridge Investment Group has declared a quarterly dividend that was paid on December 20th. Shareholders who held stocks as of December 6th received a dividend of $0.10 per share. The ex-dividend date was also December 6th. This amount contributes to an annualized dividend of $0.40 with a dividend yield of 4.84%. Notably, Bridge Investment Group's dividend payout ratio (DPR) stands at an extremely high 1,000.00%.
Institutional Holdings Update
Recent changes in institutional trading of Bridge Investment Group stocks reflect a range of activities by hedge funds. Quarry LP increased its stake in the firm by 22.5% during the second quarter, now possessing 8,350 shares valued at about $62,000 after acquiring an additional 1,535 shares last quarter. Also, Jane Street Group LLC initiated a new position in Bridge Investment Group during the third quarter, valued at nearly $102,000. Other investors include Paloma Partners Management Co, which also acquired a new position worth about $110,000, and XTX Topco Ltd, which bought shares valued at approximately $127,000. Meanwhile, Quest Partners LLC secured a new position amounting to about $448,000. Currently, 52.83% of Bridge Investment Group's shares are held by institutional investors and hedge funds.
Analyst Ratings Adjustments
Several research analysts have recently adjusted their price targets and ratings for Bridge Investment Group. Morgan Stanley downgraded the stock from an "overweight" rating to "equal weight," reducing their target price from $14.00 to $11.00 in a report dated November 8th. UBS Group raised their price objective from $7.00 to $11.00 while giving the company a “neutral” rating. Additionally, Wells Fargo & Company increased their target price on the company’s shares from $11.00 to $11.50 and issued an “overweight” rating. Finally, TD Cowen lowered their price target from $10.50 to $10.00, establishing a “hold” rating. Currently, the stock has three hold ratings and two buy ratings, yielding an overall consensus rating of 'Hold' with a price target of $11.00 according to MarketBeat.com.
Overview of Bridge Investment Group Holdings Inc.
About the Company
Bridge Investment Group Holdings Inc. is engaged in real estate investment management within the United States. The company manages capital investments on behalf of about one hundred global institutions and 6,500 individual investors, spread across approximately twenty-five investment vehicles. Founded in 2009, the company has its headquarters in Salt Lake City, Utah.
Katherine, Elmsnab, Bridge