BrightSphere Investment Group Inc. (NYSE:BSIG) Short Interest Up 18.2% in July

BrightSphere Investment Group Inc. (NYSE:BSIGGet Rating) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 2,600,000 shares, an increase of 18.2% from the June 30th total of 2,200,000 shares. Approximately 6.3% of the shares of the stock are sold short. Based on an average trading volume of 423,700 shares, the days-to-cover ratio is presently 6.1 days.

Analysts Set New Price Targets

Separately, Morgan Stanley dropped their price objective on BrightSphere Investment Group from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, July 29th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, BrightSphere Investment Group currently has a consensus rating of “Hold” and a consensus price target of $27.00.

BrightSphere Investment Group Price Performance

NYSE:BSIG opened at $18.73 on Friday. The business has a fifty day simple moving average of $18.90 and a two-hundred day simple moving average of $21.55. BrightSphere Investment Group has a 1 year low of $16.62 and a 1 year high of $31.17. The company has a market capitalization of $775.89 million, a P/E ratio of 4.17 and a beta of 1.56.

BrightSphere Investment Group (NYSE:BSIGGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). BrightSphere Investment Group had a net margin of 65.73% and a return on equity of 46.17%. During the same period in the prior year, the business posted $0.40 EPS. As a group, analysts anticipate that BrightSphere Investment Group will post 1.91 earnings per share for the current year.

BrightSphere Investment Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. BrightSphere Investment Group’s payout ratio is currently 0.89%.

Hedge Funds Weigh In On BrightSphere Investment Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV bought a new position in shares of BrightSphere Investment Group during the 2nd quarter valued at $53,000. Point72 Hong Kong Ltd purchased a new stake in shares of BrightSphere Investment Group in the 4th quarter worth $168,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BrightSphere Investment Group by 33.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,544 shares of the company’s stock worth $219,000 after purchasing an additional 2,163 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of BrightSphere Investment Group in the 4th quarter worth $226,000. Finally, AlphaCrest Capital Management LLC purchased a new stake in BrightSphere Investment Group in the 1st quarter worth $240,000. 98.74% of the stock is owned by institutional investors.

About BrightSphere Investment Group

(Get Rating)

BrightSphere Investment Group Inc is a publically owned asset management holding company. The firm provides its services to individuals and institutions. It manages separate client focused portfolios through its subsidiaries. The firm also launches equity mutual funds for its clients. It invests in public equity, fixed income, and alternative investment markets through its subsidiaries.

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