BrightSphere Investment Group Inc. (NYSE:BSIG) Sees Large Increase in Short Interest

BrightSphere Investment Group Inc. (NYSE:BSIG) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 2,900,000 shares, a growth of 10.7% from the May 31st total of 2,620,000 shares. Approximately 7.8% of the shares of the company are sold short. Based on an average daily volume of 246,100 shares, the short-interest ratio is currently 11.8 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its stake in shares of BrightSphere Investment Group by 29.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,885 shares of the company’s stock worth $94,000 after purchasing an additional 1,106 shares during the period. Federated Hermes Inc. grew its stake in shares of BrightSphere Investment Group by 16.3% in the third quarter. Federated Hermes Inc. now owns 9,846 shares of the company’s stock valued at $191,000 after buying an additional 1,383 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of BrightSphere Investment Group during the first quarter valued at approximately $214,000. Linden Thomas Advisory Services LLC grew its stake in shares of 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 acquiring an additional 2,171 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in BrightSphere Investment Group during the 1st quarter worth approximately $265,000. Institutional investors and hedge funds own 98.69% of the company’s stock.

BrightSphere Investment Group Price Performance

Shares of BSIG stock traded down $0.07 during trading hours on Wednesday, hitting $22.73. The company had a trading volume of 91,373 shares, compared to its average volume of 305,580. The stock has a market capitalization of $858.28 million, a PE ratio of 13.88 and a beta of 1.45. The company’s fifty day moving average is $22.47 and its 200 day moving average is $21.84. BrightSphere Investment Group has a fifty-two week low of $15.23 and a fifty-two week high of $23.63.

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

BrightSphere Investment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.01 per share. The ex-dividend date was Friday, June 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. BrightSphere Investment Group’s payout ratio is currently 2.44%.

Analysts Set New Price Targets

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

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.