Bridge Investment Group Holdings Inc. (NYSE:BRDG) Short Interest Up 17.2% in August

Bridge Investment Group Holdings Inc. (NYSE:BRDG) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 671,100 shares, an increase of 17.2% from the August 15th total of 572,700 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average trading volume of 149,500 shares, the days-to-cover ratio is presently 4.5 days.

Bridge Investment Group Stock Performance

BRDG stock opened at $9.97 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.72. Bridge Investment Group has a fifty-two week low of $8.43 and a fifty-two week high of $16.54. The stock has a fifty day moving average of $11.24 and a 200-day moving average of $10.90.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings results on Monday, August 7th. The company reported $0.20 earnings per share for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $98.80 million during the quarter, compared to the consensus estimate of $78.78 million. Bridge Investment Group had a return on equity of 3.38% and a net margin of 0.24%. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, sell-side analysts forecast that Bridge Investment Group will post 0.81 EPS for the current fiscal year.

Bridge Investment Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date of this dividend was Thursday, August 31st. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.15. Bridge Investment Group’s payout ratio is currently -850.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Bridge Investment Group by 26.5% in the 1st quarter. Vanguard Group Inc. now owns 2,075,765 shares of the company’s stock worth $42,241,000 after buying an additional 434,346 shares during the last quarter. Voss Capital LLC purchased a new stake in shares of Bridge Investment Group during the 2nd quarter valued at about $4,230,000. Schonfeld Strategic Advisors LLC purchased a new stake in Bridge Investment Group during the 2nd quarter valued at $2,373,000. Lord Abbett & CO. LLC raised its position in Bridge Investment Group by 39.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 557,049 shares of the company’s stock worth $11,336,000 after purchasing an additional 156,156 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Bridge Investment Group by 42.1% during the second quarter. BlackRock Inc. now owns 520,765 shares of the company’s stock valued at $5,911,000 after purchasing an additional 154,399 shares during the period. Hedge funds and other institutional investors own 58.41% of the company’s stock.

Wall Street Analysts Forecast Growth

BRDG has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of Bridge Investment Group from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 11th. Piper Sandler reduced their price objective on shares of Bridge Investment Group from $21.00 to $13.00 in a research report on Thursday, May 25th. Wells Fargo & Company upped their price objective on Bridge Investment Group from $14.00 to $15.00 in a research note on Tuesday, July 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Bridge Investment Group from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.08.

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.