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SALT LAKE CITY—Adam O'Farrell, the Chief Operating Officer of Bridge Investment Group Holdings Inc. (NYSE:BRDG), a $345 million market cap investment management firm currently trading at $8.30 per share, has recently sold shares of the company's Class A Common Stock. According to InvestingPro data, the stock has shown significant volatility lately, with shares offering a 4.82% dividend yield. According to a Form 4 filing with the Securities and Exchange Commission, O'Farrell disposed of a total of 20,129 shares over three transactions, which took place on January 2, January 3, and January 6, 2025. The shares were sold at prices ranging from $8.07 to $8.31, amounting to a total transaction value of $165,569. The stock currently trades at a P/E ratio of 74, with InvestingPro analysis revealing 8 additional key insights about the company's valuation and prospects.
After these sales, O'Farrell's direct ownership of Class A Common Stock stands at 538,038 shares. Additionally, O'Farrell holds indirect ownership of Class B Common Stock through trusts, with 827,095 shares held by the Adam B. O'Farrell and Tracy K. O'Farrell Trust and 1,460,950 shares by The O'Farrell Irrevocable Trust. The transactions did not involve any derivative securities. For a comprehensive analysis of BRDG's insider transactions and financial health metrics, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, Bridge Investment Group reported solid third-quarter financial results for 2024. The company announced a GAAP net income of $10.6 million and diluted net income per share of $0.04. Distributable earnings stood at $28.2 million, or $0.15 per share after tax, and a dividend of $0.10 per share was declared by the board.
In further developments, TD Cowen revised its outlook on Bridge Investment Group, reducing the firm's price target from $10.50 to $10.00, while maintaining a Hold rating on the stock. This adjustment was based on the analyst's more cautious view of the company's future financial performance and a reassessment of its potential for exits and monetizations.
The analyst noted that market estimates for Bridge Investment Group's 2025 earnings may be approximately 20% higher than what could be realistically expected. It was also mentioned that the company is no longer viewed as a likely candidate for sale, indicating a shift in its strategic direction. These are among the recent developments that investors should note.
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