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Katherine Elsnab, the Chief Financial Officer of Bridge Investment Group Holdings Inc. (NYSE:BRDG), has recently sold a significant portion of her holdings in the company. According to a recent SEC filing, Elsnab sold a total of 9,308 shares of Class A Common Stock over three separate transactions between January 2 and January 6, 2025. The sales were executed at prices ranging from $8.07 to $8.31 per share, amounting to a total transaction value of approximately $76,562. The stock, which has shown significant volatility according to InvestingPro data, currently trades at a P/E ratio of 74 and offers a dividend yield of 4.8%.
Following these transactions, Elsnab holds 297,707 shares of Class A Common Stock. Additionally, she retains ownership of 201,822 shares of Class B Common Stock and 206,604 Class A Units in Bridge Investment Group Holdings LLC, which can be redeemed for Class A Common Stock on a 1-to-1 basis.
These transactions reflect Elsnab's ongoing management of her equity position in the company, which is based in Salt Lake City, Utah. Bridge Investment Group Holdings Inc. provides investment advice and services across a range of asset classes.
In other recent news, Bridge Investment Group has experienced significant developments. TD Cowen recently revised its outlook on the company, lowering the price target from $10.50 to $10.00 and maintaining a Hold rating. This decision was influenced by a more cautious view of Bridge Investment Group's future financial performance, with the analyst's projections for the company's 2025 and 2026 earnings falling below market and industry expectations.
Additionally, Bridge Investment Group reported solid third-quarter financial results for 2024. The company posted 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 the company declared a dividend of $0.10 per share.
These recent developments reflect a more conservative outlook for Bridge Investment Group's financial trajectory in the coming years. Despite facing challenges such as lower office sector revenue and a shift in revenue mix due to institutional investor inflows, the company remains committed to delivering substantial distributable earnings in the future.
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