Brightsphere Investment Group PLC (NYSE:BSIG) Short Interest Up 10.1% in November

Brightsphere Investment Group PLC (NYSE:BSIG) saw a large increase in short interest in the month of 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. Based on an average trading volume of 662,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.2% of the shares of the company are sold short.

Several institutional investors and hedge funds have recently modified their holdings of the company. Metropolitan Life Insurance Co NY purchased a new stake in shares of Brightsphere Investment Group during the 3rd quarter worth approximately $247,000. Man Group plc raised its holdings in shares of Brightsphere Investment Group by 6.6% during the 3rd quarter. Man Group plc now owns 171,388 shares of the company’s stock worth $1,698,000 after acquiring an additional 10,587 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Brightsphere Investment Group by 961.6% during the 3rd quarter. Squarepoint Ops LLC now owns 179,409 shares of the company’s stock worth $1,778,000 after acquiring an additional 162,509 shares in the last quarter. Algebris UK Ltd purchased a new stake in shares of Brightsphere Investment Group during the 3rd quarter worth approximately $1,536,000. Finally, Voya Investment Management LLC raised its holdings in shares of Brightsphere Investment Group by 17.2% during the 3rd quarter. Voya Investment Management LLC now owns 61,606 shares of the company’s stock worth $611,000 after acquiring an additional 9,036 shares in the last quarter. 98.47% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the company. Evercore ISI reiterated a “hold” rating and set a $11.00 price objective on shares of Brightsphere Investment Group in a research note on Monday, November 11th. Wells Fargo & Co reiterated a “buy” rating on shares of Brightsphere Investment Group in a research note on Monday, December 9th. Zacks Investment Research upgraded Brightsphere Investment Group from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $16.00 price target on shares of Brightsphere Investment Group in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $13.79.

NYSE BSIG traded down $0.50 during trading hours on Friday, reaching $10.29. The company’s stock had a trading volume of 320,666 shares, compared to its average volume of 510,798. The firm’s 50-day moving average price is $9.78 and its 200-day moving average price is $10.14. 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 has a 1 year low of $8.40 and a 1 year high of $14.87. The company has a market capitalization of $929.10 million, a price-to-earnings ratio of 5.53, a PEG ratio of 1.30 and a beta of 1.79.

Brightsphere Investment Group (NYSE:BSIG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). Brightsphere Investment Group had a return on equity of 228.89% and a net margin of 21.67%. The business had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $205.68 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The firm’s revenue for the quarter was down 14.0% on a year-over-year basis. Equities research analysts anticipate 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. Investors of record on Friday, December 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.40 dividend on an annualized basis and a yield of 3.89%. Brightsphere Investment Group’s dividend payout ratio is presently 21.51%.

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.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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