Brightsphere Investment Group PLC (NYSE:BSIG) Short Interest Update

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Brightsphere Investment Group PLC (NYSE:BSIG) was the recipient of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 444,800 shares, a decrease of 70.7% from the July 15th total of 1,520,300 shares. Based on an average daily volume of 496,100 shares, the short-interest ratio is currently 0.9 days. Approximately 0.5% of the shares of the company are short sold.

Several research firms have commented on BSIG. Royal Bank of Canada set a $17.00 target price on shares of Brightsphere Investment Group and gave the stock a “buy” rating in a research report on Friday, May 3rd. Citigroup decreased their target price on shares of Brightsphere Investment Group from $15.00 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Morgan Stanley reduced their price target on shares of Brightsphere Investment Group from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Zacks Investment Research raised shares of Brightsphere Investment Group from a “sell” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.90.

In other news, insider Guang Yang bought 50,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $9.10 per share, for a total transaction of $455,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 24.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC lifted its position in shares of Brightsphere Investment Group by 7.6% in the 1st quarter. Neuberger Berman Group LLC now owns 5,353,653 shares of the company’s stock valued at $72,596,000 after acquiring an additional 377,385 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Brightsphere Investment Group by 174.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,603,882 shares of the company’s stock valued at $28,929,000 after buying an additional 1,654,493 shares during the period. Dimensional Fund Advisors LP increased its stake in Brightsphere Investment Group by 6.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,939,701 shares of the company’s stock valued at $20,716,000 after buying an additional 118,443 shares during the period. Nuveen Asset Management LLC acquired a new position in Brightsphere Investment Group in the 2nd quarter valued at approximately $20,420,000. Finally, Citadel Advisors LLC increased its stake in shares of Brightsphere Investment Group by 57.6% during the 2nd quarter. Citadel Advisors LLC now owns 1,549,660 shares of the company’s stock worth $17,681,000 after purchasing an additional 566,370 shares during the last quarter. 0.53% of the stock is owned by institutional investors and hedge funds.

BSIG stock traded down $0.11 on Wednesday, hitting $8.65. 928 shares of the company’s stock traded hands, compared to its average volume of 454,085. Brightsphere Investment Group has a 1-year low of $8.40 and a 1-year high of $14.87. The stock has a market cap of $808.41 million and a price-to-earnings ratio of 4.71. The stock has a fifty day moving average of $10.06 and a 200-day moving average of $12.23. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.62.

Brightsphere Investment Group (NYSE:BSIG) last released its earnings results on Thursday, August 1st. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. Brightsphere Investment Group had a net margin of 18.36% and a return on equity of 214.61%. The business had revenue of $207.10 million during the quarter, compared to analyst estimates of $211.13 million. During the same period in the prior year, the business earned $0.47 earnings per share. The business’s quarterly revenue was down 11.5% on a year-over-year basis. On average, equities research analysts anticipate that Brightsphere Investment Group will post 1.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.62%. The ex-dividend date is Thursday, September 12th.

About Brightsphere Investment Group

BrightSphere Investment Group plc 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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