Jennison Associates LLC Reduces Stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG)

Jennison Associates LLC reduced its position in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,054,378 shares of the company’s stock after selling 29,032 shares during the period. Jennison Associates LLC owned 0.09% of Bridge Investment Group worth $29,872,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BRDG. Lord Abbett & CO. LLC increased its stake in Bridge Investment Group by 24.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 756,349 shares of the company’s stock valued at $6,958,000 after purchasing an additional 149,400 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in Bridge Investment Group during the 4th quarter valued at $479,000. Schonfeld Strategic Advisors LLC grew its holdings in Bridge Investment Group by 22.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 255,744 shares of the company’s stock valued at $2,353,000 after buying an additional 46,694 shares during the last quarter. Burgundy Asset Management Ltd. grew its holdings in Bridge Investment Group by 1.6% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,353,336 shares of the company’s stock valued at $21,651,000 after buying an additional 36,193 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Bridge Investment Group by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,619,156 shares of the company’s stock valued at $24,096,000 after buying an additional 30,787 shares during the last quarter. 52.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Morgan Stanley decreased their price objective on Bridge Investment Group from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. JPMorgan Chase & Co. reduced their price objective on Bridge Investment Group from $13.50 to $11.50 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Wells Fargo & Company reduced their price objective on Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. UBS Group reduced their price objective on Bridge Investment Group from $9.50 to $6.50 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Finally, TD Cowen started coverage on Bridge Investment Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $11.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.67.

Bridge Investment Group Stock Up 5.2 %

NYSE:BRDG opened at $6.97 on Thursday. The stock has a 50 day moving average of $6.98 and a 200-day moving average of $8.02. Bridge Investment Group Holdings Inc. has a 52 week low of $6.18 and a 52 week high of $13.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.82.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Bridge Investment Group had a positive return on equity of 9.14% and a negative net margin of 1.73%. The business had revenue of $70.52 million during the quarter, compared to the consensus estimate of $78.55 million. Sell-side analysts expect that Bridge Investment Group Holdings Inc. will post 0.78 EPS for the current year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.07 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.28 dividend on an annualized basis and a yield of 4.02%. Bridge Investment Group’s dividend payout ratio (DPR) is -62.22%.

Bridge Investment Group 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.