Bridge Investment Group Holdings Inc. (NYSE:BRDG – Get Rating) was the target of a sharp drop in short-selling rates in November. As of November 30, there were a total of 574,500 shares shorted, down 10.5% from the November 15 total of 641,600 shares. Based on an average daily trading volume of 133,400 shares, the days coverage ratio is now 4.3 days. About 2.1% of the company’s shares have been sold short.
Wall Street Analyst Predicts Growth
Several equity analysts recently published reports on the company. TheStreet downgraded Bridge Investment Group’s rating from ‘c-‘ to ‘d+’ in a research report on Wednesday, October 19. UBS Group raised its price target on Bridge Investment Group from $15.00 to $16.00 in a research report on Tuesday, November 15, giving the stock a ‘neutral’ rating. Morgan Stanley lowered its price target on Bridge Investment Group from his $22.00 to $21.00 and set the company’s rating to ‘overweight’ in a research report on Wednesday, Oct. 19. Finally, Credit Suisse Group gave Bridge Investment Group her $13.50 price target in a research report on Wednesday, Nov. 23. Two of his analysts gave the stock a hold rating and three of his analysts gave the stock a buy rating. Based on MarketBeat data, the company’s current average rating is “moderate buy” with an average price target of $19.10.
Bridge Investment Group deals down 2.7%
Bridge Investment Group shares opened at $12.26 on Friday. The Bridge Investment Group hit a 12-month low of $12.05 and a 12-month high of $25.61. The stock has a market cap of $358.57 million, a P/E of 8.28 and a beta of 1.53. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt to equity ratio of 0.45. The business has a 50-day moving average of $14.67 and a 200-day moving average of $15.53.
Bridge Investment Group cuts dividend
The company recently announced its quarterly dividend, which was paid out on Friday, December 16th. Dividends of $0.27 per share were paid to shareholders of record on Friday, December 2nd. This represents his $1.08 dividend and his 8.81% dividend yield on an annual basis. The ex-dividend date was Thursday, December 1. Bridge Investment Group’s current payout ratio is 72.97%.
Institutional investor joins Bridge Investment Group
Many institutional investors and hedge funds have recently changed their stock positions. Bank of New York Mellon Corp raised his 28.1% stake in Bridge Investment Group in the third quarter. Bank of New York Mellon Corp now owns 83,103 shares of the company worth $1,205,000 after he bought an additional 18,254 shares last quarter. BNP Paribas Arbitrage SNC purchased new shares in Bridge Investment Group for $318,000 in the third quarter. Jacobs Levy Equity Management Inc. purchased new shares of Bridge Investment Group for $277,000 in the third quarter. Two Sigma Advisers LP increased its stake in Bridge Investment Group by 21.0% in the third quarter. Two Sigma Advisers LP now owns 30,500 shares of the company worth $442,000 after acquiring an additional 5,300 shares during this period. Finally, Vanguard Group Inc. increased its stake in Bridge Investment Group by 1.9% in the third quarter. Vanguard Group Inc. now owns 2,446,292 shares worth $35,471,000 after acquiring an additional 45,059 shares during this period. Institutional investors own 59.49% of the company’s shares.
Bridge Investment Group Company Profile
(get rating)
Bridge Investment Group Holdings Inc is a real estate investment management business in the United States. Across approximately 25 investment vehicles, approximately 100 global institutions and he manages capital on behalf of 6,500 individual investors. The company was founded in his 2009 and is headquartered in Salt Lake City, Utah.
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