Short Interest in BrightSphere Investment Group Inc. (NYSE:BSIG) Decreases By 21.0%

BrightSphere Investment Group Inc. (NYSE:BSIG) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 2,290,000 shares, a decline of 21.0% from the June 15th total of 2,900,000 shares. Based on an average trading volume of 267,800 shares, the short-interest ratio is currently 8.6 days. Approximately 6.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of BrightSphere Investment Group from a “hold” rating to a “buy” rating in a report on Friday, May 3rd.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BSIG. PNC Financial Services Group Inc. raised its holdings in shares of BrightSphere Investment Group by 29.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock valued at $94,000 after purchasing an additional 1,106 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of BrightSphere Investment Group during the first quarter valued at approximately $214,000. Linden Thomas Advisory Services LLC increased its holdings in BrightSphere Investment Group by 20.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 12,600 shares of the company’s stock valued at $241,000 after buying an additional 2,171 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in BrightSphere Investment Group during the first quarter valued at approximately $265,000. Finally, Louisiana State Employees Retirement System purchased a new stake in BrightSphere Investment Group during the fourth quarter valued at approximately $310,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

BrightSphere Investment Group Stock Performance

Shares of BrightSphere Investment Group stock opened at $24.31 on Tuesday. The stock has a market capitalization of $917.95 million, a PE ratio of 14.82 and a beta of 1.45. BrightSphere Investment Group has a 52-week low of $15.23 and a 52-week high of $24.51. The company has a 50-day simple moving average of $22.53 and a two-hundred day simple moving average of $22.08.

BrightSphere Investment Group (NYSE:BSIG) last issued its earnings results on Thursday, May 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.10. BrightSphere Investment Group had a net margin of 15.53% and a return on equity of 438.16%. The business had revenue of $105.70 million during the quarter, compared to analysts’ expectations of $101.32 million. As a group, equities research analysts forecast that BrightSphere Investment Group will post 2.22 EPS for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, June 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. BrightSphere Investment Group’s payout ratio is 2.44%.

BrightSphere Investment Group Company Profile

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.