Bridge Investment Group Holdings Inc (NYSE: BRDG) stock jumped 2.97% on Monday to $7.63 against a previous-day closing price of $7.41. With 0.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.31 million shares. The 52-week range on BRDG shows that it touched its highest point at $15.61 and its lowest point at $6.99 during that stretch. It currently has a 1-year price target of $11.88. With its current market cap of 254.46 million, BRDG has annualized dividend of $0.66 while the current yield stands at 8.64%. Beta for the stock currently stands at 1.73.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BRDG was up-trending over the past week, with a rise of 0.53%, but this was up by 0.66% over a month. Three-month performance dropped to -26.42% while six-month performance fell -22.93%. The stock lost -49.23% in the past year, while it has lost -36.68% so far this year. A look at the trailing 12-month EPS for BRDG yields -0.44 with Next year EPS estimates of 0.97. For the next quarter, that number is 0.25. This implies an EPS growth rate of -26.90% for this year and 20.06% for next year.
Float and Shares Shorts:
At present, 33.35 million BRDG shares are outstanding with a float of 29.88 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.42 million, which was 1.21% higher than short shares on Sep 28, 2023. In addition to Mr. Robert Randolph Morse as the firm’s Executive Chairman, Mr. Jonathan Peter Slager serves as its CEO & Director.
Institutional Ownership:
Other institutions hold 31.54% of BRDG, in contrast to 26.91% held by mutual funds. Shares owned by individuals account for 10.51%. As the largest shareholder in BRDG with 9.25% of the stake, Jennison Associates LLC holds 3,083,410 shares worth 3,083,410. A second-largest stockholder of BRDG, The Vanguard Group, Inc., holds 2,606,712 shares, controlling over 7.82% of the firm’s shares. Burgundy Asset Management Ltd. is the third largest shareholder in BRDG, holding 2,353,336 shares or 7.06% stake. With a 4.23% stake in BRDG, the Franklin Small Cap Growth Fund is the largest stakeholder. A total of 1,410,600 shares are owned by the mutual fund manager. The PGIM Jennison Small Company Fund, which owns about 4.17% of BRDG stock, is the second-largest Mutual Fund holder. It holds 1,391,366 shares valued at 10.13 million. Dynamic Small Business Fund holds 2.92% of the stake in BRDG, owning 971,943 shares worth 7.08 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BRDG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BRDG analysts setting a high price target of $14.00 and a low target of $8.00, the average target price over the next 12 months is $11.88. Based on these targets, BRDG could surge 83.49% to reach the target high and rise by 4.85% to reach the target low. Reaching the average price target will result in a growth of 55.7% from current levels.
Summary of Insider Activity:
Insiders traded BRDG stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 6 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 1,106,344 while 0 shares were sold.
