BrightSphere Investment Group Inc. (NYSE: BSIG – Get Rating) benefited from strong short-term interest growth in October. As of October 15, there was short interest totaling 2,140,000 shares, a growth of 17.6% from the total of 1,820,000 shares as of September 30. Based on an average daily volume of 281,400 shares, the short interest ratio is currently 7.6 days. About 5.2% of the stock’s shares are sold short.
BrightSphere Investment Group Stock Performance
BSIG traded at $0.30 during midday trading on Friday, reaching $18.60. The stock recorded trading volume of 371,808 shares, compared to an average trading volume of 341,586 shares. The stock has a market capitalization of $770.60 million, a P/E ratio of 4.14 and a beta of 1.56. The company’s fifty-day simple moving average is $17.23 and its two-hundred-day simple moving average is $18.76. BrightSphere Investment Group has a 52-week low of $14.73 and a 52-week high of $31.17.
BrightSphere Investment Group (NYSE:BSIG – Get Rating) last reported quarterly earnings data on Thursday, July 28. The company reported EPS of $0.41 for the quarter, beating consensus analyst estimates of $0.36 by $0.05. BrightSphere Investment Group achieved a return on equity of 46.17% and a net margin of 65.73%. The company posted revenue of $95.50 million for the quarter, versus analyst estimates of $96.01 million. During the same period last year, the company achieved EPS of $0.40. As a group, analysts expect BrightSphere Investment Group to post EPS of 1.64 for the current fiscal year.
Institutional entries and exits
Hedge funds and other institutional investors have recently changed their positions in the stock. KBC Group NV bought a new position in shares of BrightSphere Investment Group in the 2nd quarter for a value of $53,000. Point72 Hong Kong Ltd bought a new position in BrightSphere Investment Group during the second quarter worth approximately $124,000. Allspring Global Investments Holdings LLC increased its holdings in BrightSphere Investment Group by 37.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,400 shares of the company worth $125,000 after acquiring 2,277 additional shares in the last quarter. AlphaCrest Capital Management LLC bought a new position in BrightSphere Investment Group during the first quarter worth approximately $240,000. Finally, Hsbc Holdings PLC increased its stake in BrightSphere Investment Group by 51.3% during the first quarter. Hsbc Holdings PLC now owns 11,832 shares in the company worth $289,000 after acquiring 4,012 more shares last quarter.
Analysts set new price targets
A number of equity research analysts have weighed in on the company recently. Morgan Stanley raised its price target on BrightSphere Investment Group from $17.00 to $18.00 and gave the company an “equal weight” rating in a Wednesday, October 12 report. StockNews.com picked up coverage from BrightSphere Investment Group in a Wednesday, October 12 research report. They issued a “hold” rating on the stock. Three equity research analysts gave the stock a hold rating and one gave the company’s stock a buy rating. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $27.33.
BrightSphere Investment Group Company Profile
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BrightSphere Investment Group Inc is a public asset management holding company. The firm offers its services to individuals and institutions. It manages separate client-focused portfolios through its subsidiaries. The company also launches equity mutual funds for its clients. It invests in public equities, fixed income securities and alternative investment markets through its subsidiaries.
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