Bank of Montreal Can Buys New Shares in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Posted by Defense World Staff on Apr 23rd, 2023

Bank of Montreal Can purchased a new position in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 263,620 shares of the company’s stock, valued at approximately $3,200,000. Bank of Montreal Can owned about 0.90% of Bridge Investment Group at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versor Investments LP purchased a new stake in Bridge Investment Group during the 3rd quarter worth about $309,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Bridge Investment Group during the third quarter worth about $277,000. PDT Partners LLC increased its position in shares of Bridge Investment Group by 13.6% during the second quarter. PDT Partners LLC now owns 14,331 shares of the company’s stock worth $208,000 after purchasing an additional 1,721 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Bridge Investment Group by 769.5% during the first quarter. JPMorgan Chase & Co. now owns 8,373 shares of the company’s stock worth $170,000 after purchasing an additional 7,410 shares in the last quarter. Finally, Pathstone Family Office LLC acquired a new stake in shares of Bridge Investment Group during the third quarter worth about $146,000. 59.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on BRDG shares. Piper Sandler started coverage on Bridge Investment Group in a research report on Thursday, January 5th. They set an “overweight” rating on the stock. Wells Fargo & Company cut their target price on Bridge Investment Group from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 11th. Credit Suisse Group lifted their target price on Bridge Investment Group from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 21st. Finally, Morgan Stanley cut their target price on Bridge Investment Group from $20.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.25.

Bridge Investment Group Price Performance

Shares of BRDG opened at $10.48 on Friday. Bridge Investment Group Holdings Inc. has a twelve month low of $9.94 and a twelve month high of $19.62. The stock’s 50 day moving average is $12.27 and its two-hundred day moving average is $13.60. The firm has a market capitalization of $343.64 million, a PE ratio of 11.39 and a beta of 1.65. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.46.

Bridge Investment Group (NYSE:BRDG – Get Rating) last announced its quarterly earnings results on Tuesday, February 14th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $95.47 million for the quarter, compared to analyst estimates of $96.10 million. Bridge Investment Group had a return on equity of 3.99% and a net margin of 6.46%. Research analysts anticipate that Bridge Investment Group Holdings Inc. will post 1 earnings per share for the current year.

Bridge Investment Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend was Thursday, March 9th. Bridge Investment Group’s dividend payout ratio (DPR) is 73.91%.

Bridge Investment Group Profile

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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.