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.
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.
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.
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.