Brightsphere Investment Group (NYSE:BSIG) Raised to Hold at Zacks Investment Research

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Brightsphere Investment Group (NYSE:BSIG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “BrightSphere Investment Group plc is a diversified multi-boutique asset management company. The Company focuses on equities and fixed income portfolios, as well as investments in timber and real estate sectors. BrightSphere Investment Group plc, formerly known as OM Asset Management plc, is based in London, United Kingdom. “

A number of other analysts have also recently commented on the company. Evercore ISI restated a “hold” rating and issued a $11.00 price target on shares of Brightsphere Investment Group in a research report on Monday, November 11th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Brightsphere Investment Group in a research report on Monday. Finally, Credit Suisse Group reiterated a “buy” rating and set a $16.00 price objective on shares of Brightsphere Investment Group in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Brightsphere Investment Group presently has an average rating of “Hold” and an average target price of $13.79.

BSIG traded up $0.14 during trading on Tuesday, hitting $10.26. The company’s stock had a trading volume of 546,872 shares, compared to its average volume of 591,509. The business’s 50 day simple moving average is $9.72 and its 200-day simple moving average is $10.17. The firm has a market cap of $853.33 million, a PE ratio of 5.52, a P/E/G ratio of 1.20 and a beta of 1.79. Brightsphere Investment Group has a one year low of $8.40 and a one year high of $14.87. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.62.

Brightsphere Investment Group (NYSE:BSIG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The business had revenue of $197.80 million for the quarter, compared to the consensus estimate of $205.68 million. Brightsphere Investment Group had a net margin of 21.67% and a return on equity of 228.89%. The company’s revenue was down 14.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. Equities research analysts expect that Brightsphere Investment Group will post 1.73 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. bought a new position in shares of Brightsphere Investment Group in the second quarter worth about $34,000. Tower Research Capital LLC TRC bought a new stake in Brightsphere Investment Group during the 3rd quarter valued at approximately $52,000. Bank of Montreal Can bought a new stake in Brightsphere Investment Group during the 2nd quarter valued at approximately $67,000. Aperio Group LLC bought a new stake in Brightsphere Investment Group during the 2nd quarter valued at approximately $108,000. Finally, SG Americas Securities LLC lifted its holdings in Brightsphere Investment Group by 19.0% in the 2nd quarter. SG Americas Securities LLC now owns 10,739 shares of the company’s stock worth $123,000 after purchasing an additional 1,717 shares in the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.

Brightsphere Investment Group Company Profile

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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Analyst Recommendations for Brightsphere Investment Group (NYSE:BSIG)

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