Jennison Associates LLC has recently announced that it has increased stake in Bridge Investment Group Holdings Inc. (NYSE:BRDG) by 14.20%. After grabbing 2.54 million shares, the institutional investor is now in possession of 0.32 million shares of the Financial Company. The new investment brought the stake of investor firm to 8.70% having worth around $30.66 million. Moreover, The Vanguard Group, Inc. increased its share by 45059.0 to have a control over 2.44 million shares. And Morgan Stanley Smith Barney LLC raised its holdings to 0.12 million shares by acquiring 1.89 million shares or 6.46% of the stake.
Bridge Investment Group Holdings Inc. (BRDG) concluded trading on 01/19/23 at a closing price of $14.46, with 0.19 million shares of worth about $2.8 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.95% during that period and on Thursday the price saw a loss of about -0.62%. Currently the company’s common shares owned by public are about 115.60M shares, out of which, 26.52M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the BRDG stock and their offered price forecasts bring an average price target of $18.25. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $22.00 and could fall to a lowest price of $13.50. The stock’s current price level is 22.17% above of average price target set by the analysts, while a rise to estimated low would result in loss of -7.11% for the stock. However, touching the estimated high of $22.00 would mean a gain of 34.27% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 3 times over the past 12 months. They bought 16,758 shares in 3 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Franklin Small Cap Growth Fund, PGIM Jennison Small Company Fund, and Dynamic Small Business Fund are the top 3 mutual funds which are holding stakes in Bridge Investment Group Holdings Inc. Franklin Small Cap Growth Fund is currently holding 1.41 million shares of worth totaling $17.0 million. The company recently came buying 0.0 shares which brought its stake up to 4.82% of the company’s outstanding shares. PGIM Jennison Small Company Fund bought 0.53 million shares, after which its hold over company’s outstanding shares expand to 4.76%, leaving 1.39 million shares with the mutual fund that have a worth of about $16.77 million. Dynamic Small Business Fund, after buying 1.04 million shares, have now control over 3.54% of the stake in the company. It holds 0.0 shares of worth $12.48 million.
Bridge Investment Group Holdings Inc. (NYSE: BRDG) started trading at $14.35, below -$0.2 from concluding price of the previous day. However, the stock later moved at a day high price of 14.67, or with a loss of -0.62%. Stock saw a price change of 1.33% in past 5 days and over the past one month there was a price change of 17.94%. Year-to-date (YTD), BRDG shares are showing a performance of 20.00% which decreased to -34.33% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $11.88 but also hit the highest price of $23.78 during that period. The average intraday trading volume for Bridge Investment Group Holdings Inc. shares is 159.81K. The stock is currently trading 9.32% above its 20-day simple moving average (SMA20), while that difference is up 3.59% for SMA50 and it goes to -9.47% lower than SMA200.
Jennison Associates LLC acquired 2.54 million shares of Bridge Investment Group Holdings Inc. having value of about $30.66 million. Data submitted at the U.S SEC by Jennison Associates LLC revealed that the firm now holds 0.32 million shares in the company valued at close to $4575144.0, or have control over 14.20% stake in the company. Bridge Investment Group Holdings Inc. (NYSE: BRDG) currently have 115.60M outstanding shares and institutions hold larger chunk of about 59.70% of that. Holding of mutual funds in the company is about 26.95% while other institutional holders and individual stake holders have control over 32.44% and 11.81% of the stake respectively.
The stock has a current market capitalization of $1.67B. PE ratio of stock for trailing 12 months is 1.87, while it has posted earnings per share of $7.73 in the same period. Its PEG reads 0.10 while making debt-to-equity ratio of 3.51. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BRDG, volatility over the week remained 3.03% while standing at 3.56% over the month.
Analysts are in expectations that Bridge Investment Group Holdings Inc. (BRDG) stock would likely to be making an EPS of $0.23 in the current quarter, while forecast for next quarter EPS is $0.25 and it is $1.17 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.2 which is $0.25 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.41 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 68.70% while it is estimated to increase by 1.44% in next year.
Analysts at 6 brokerage firms have issued recommendations for the Bridge Investment Group Holdings Inc. (BRDG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 6 Wall Street analysts, 4 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Coverage by Credit Suisse stated Bridge Investment Group Holdings Inc. (BRDG) stock as a Neutral in their note to investors on October 19, 2022, suggesting a price target of $15 for the stock.