Bridge Investment Group Holdings Inc. (NYSE:BRDG) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its position in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 49.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,514 shares of the company’s stock after selling 38,878 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Bridge Investment Group were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Albion Financial Group UT acquired a new stake in shares of Bridge Investment Group in the 2nd quarter valued at about $37,000. Quarry LP lifted its position in Bridge Investment Group by 22.5% during the 2nd quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after acquiring an additional 1,535 shares during the period. HBK Sorce Advisory LLC raised its stake in shares of Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock worth $146,000 after buying an additional 4,035 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Bridge Investment Group by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after buying an additional 1,735 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Bridge Investment Group by 22.0% in the 2nd quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock valued at $852,000 after purchasing an additional 20,726 shares in the last quarter. 52.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price target on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. TD Cowen decreased their price objective on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley cut Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $14.00 to $11.00 in a report on Friday, November 8th. Finally, UBS Group raised their price objective on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.00.

Bridge Investment Group Stock Performance

BRDG opened at $9.57 on Friday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 239.25 and a beta of 1.63. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. Bridge Investment Group Holdings Inc. has a 1-year low of $6.18 and a 1-year high of $11.69. The business has a 50 day moving average price of $9.93 and a two-hundred day moving average price of $8.44.

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 the consensus estimate of $0.18 by ($0.03). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The firm had revenue of $101.51 million for the quarter, compared to analyst estimates of $85.00 million. During the same period last year, the firm earned $0.22 earnings per share. Research 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 disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Friday, December 6th. Bridge Investment Group’s dividend payout ratio is presently 1,000.00%.

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.