Short Interest in Bridge Investment Group Holdings Inc. (NYSE:BRDG) Rises by 25.2%

Bridge Investment Group Holdings Inc. (NYSE:BRDG – Get Free Report) experienced a notable increase in short interest in December. As of December 15th, the total short interest stood at 351,900 shares, which marks a 25.2% rise from the previous month's total of 281,000 shares reported on November 30th. With an average daily trading volume of 233,700 shares, the current days-to-cover ratio is estimated at 1.5 days. This represents 1.0% of the company’s total shares sold short.

Bridge Investment Group Stock Performance

On the trading floor, BRDG opened at $8.37 on Tuesday. The stock's recent performance indicates a 50-day simple moving average of $9.77 and a 200-day simple moving average of $8.84. Bridge Investment Group currently holds a market capitalization of $1.01 billion, and it has a price-to-earnings (P/E) ratio of 209.30, along with a beta of 1.54. Over the past year, the stock has fluctuated, reaching a low of $6.18 and a high of $11.69. Additionally, the company's debt-to-equity ratio is 0.86, and both its current and quick ratios are at 1.14.

Recent Earnings Announcement

The company released its earnings results on November 6th. It reported earnings per share (EPS) of $0.15 for the quarter, falling short of the consensus estimate of $0.18 by $0.03. The return on equity stood at 9.91%, with a net margin of 1.92%. Revenue for the quarter was $101.51 million, exceeding analysts’ forecasts of $85.00 million. In the same quarter a year earlier, Bridge Investment Group had posted an EPS of $0.22. Analysts are projecting an average EPS of 0.68 for the current fiscal year.

Dividend Update

Recently, the firm declared a quarterly dividend, which was distributed on December 20th. Shareholders who were on record as of December 6th received a dividend of $0.10 per share. This translates to an annualized dividend of $0.40 and a dividend yield of 4.78%. Notably, the ex-dividend date for this distribution was December 6th and the dividend payout ratio (DPR) currently stands at an impressive 1,000.00%.

Institutional Investor Movements

Institutional investors have been active in adjusting their holdings in Bridge Investment Group. Quarry LP increased its stake by 22.5% in the second quarter, now owning 8,350 shares valued at approximately $62,000 after adding 1,535 shares in the last quarter. Others like Jane Street Group LLC and Paloma Partners Management Co have also established new positions, with each investing about $102,000 and $110,000 respectively in the third quarter. Bank of New York Mellon Corp has increased its stake by 3.2% in the second quarter, now controlling 55,328 shares valued at $411,000. Collectively, hedge funds and institutional investors hold around 52.83% of the company's stock.

Analyst Ratings

Several analysts have weighed in on Bridge Investment Group, with Wells Fargo & Company raising their target price from $11.00 to $11.50 and giving the stock an “overweight” rating on October 9th. However, Morgan Stanley downgraded their rating from “overweight” to “equal weight” and decreased the price target from $14.00 to $11.00 on November 8th. UBS Group revised their price target upwards from $7.00 to $11.00, maintaining a “neutral” rating, while TD Cowen lowered their price objective from $10.50 to $10.00, issuing a “hold” rating. Currently, three analysts are advising a hold on the stock while two are recommending a buy. Data from MarketBeat shows a consensus rating of “Hold” with an average target price of $11.00.

Company Overview

Bridge Investment Group Holdings Inc. specializes in real estate investment management in the United States. The company manages capital for approximately 100 global institutions as well as 6,500 individual investors across 25 investment vehicles. Established in 2009, the firm is headquartered in Salt Lake City, Utah.

Investment, Stocks, Earnings