Brightsphere Investment Group PLC (NYSE:BSIG) Sees Significant Increase in Short Interest

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Brightsphere Investment Group PLC (NYSE:BSIG) was the recipient of a significant increase in short interest in November. As of November 29th, there was short interest totalling 1,850,000 shares, an increase of 10.1% from the November 14th total of 1,680,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 662,000 shares, the short-interest ratio is presently 2.8 days.

Brightsphere Investment Group stock opened at $10.29 on Friday. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $887.77 million, a price-to-earnings ratio of 5.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.79. Brightsphere Investment Group has a 1 year low of $8.40 and a 1 year high of $14.87. The firm’s 50 day moving average price is $9.78 and its two-hundred day moving average price is $10.14.

Brightsphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). The business had revenue of $197.80 million during the quarter, compared to analyst estimates of $205.68 million. Brightsphere Investment Group had a return on equity of 228.89% and a net margin of 21.67%. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS. As a group, equities analysts predict that Brightsphere Investment Group will post 1.73 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.40 annualized dividend and a yield of 3.89%. Brightsphere Investment Group’s dividend payout ratio (DPR) is 21.51%.

A number of institutional investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY acquired a new position in Brightsphere Investment Group in the third quarter worth approximately $247,000. Man Group plc grew its position in Brightsphere Investment Group by 6.6% in the third quarter. Man Group plc now owns 171,388 shares of the company’s stock worth $1,698,000 after buying an additional 10,587 shares during the last quarter. Squarepoint Ops LLC grew its position in Brightsphere Investment Group by 961.6% in the third quarter. Squarepoint Ops LLC now owns 179,409 shares of the company’s stock worth $1,778,000 after buying an additional 162,509 shares during the last quarter. Algebris UK Ltd acquired a new position in Brightsphere Investment Group in the third quarter worth approximately $1,536,000. Finally, Voya Investment Management LLC grew its position in Brightsphere Investment Group by 17.2% in the third quarter. Voya Investment Management LLC now owns 61,606 shares of the company’s stock worth $611,000 after buying an additional 9,036 shares during the last quarter. Hedge funds and other institutional investors own 98.47% of the company’s stock.

Several equities research analysts recently commented on BSIG shares. Credit Suisse Group reissued a “buy” rating and set a $16.00 target price on shares of Brightsphere Investment Group in a report on Wednesday, September 11th. Wells Fargo & Co reissued a “buy” rating on shares of Brightsphere Investment Group in a report on Monday, December 9th. Zacks Investment Research raised Brightsphere Investment Group from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Evercore ISI reissued a “hold” rating and set a $11.00 target price on shares of Brightsphere Investment Group in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Brightsphere Investment Group currently has a consensus rating of “Hold” and an average target price of $13.79.

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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