BrightSphere Investment Group Inc. (NYSE:BSIG) Sees Significant Decline in Short Interest

BrightSphere Investment Group Inc. (NYSE:BSIG) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 2,000,000 shares, a decrease of 16.3% from the July 31st total of 2,390,000 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average trading volume of 251,400 shares, the short-interest ratio is currently 8.0 days.

Hedge Funds Weigh In On BrightSphere Investment Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSIG. Victory Capital Management Inc. lifted its stake in BrightSphere Investment Group by 75.7% in the 4th quarter. Victory Capital Management Inc. now owns 452,834 shares of the company’s stock valued at $8,676,000 after purchasing an additional 195,036 shares during the last quarter. Jennison Associates LLC raised its stake in shares of BrightSphere Investment Group by 29.4% during the first quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock valued at $17,344,000 after acquiring an additional 172,318 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of BrightSphere Investment Group by 297.9% during the second quarter. Renaissance Technologies LLC now owns 154,000 shares of the company’s stock valued at $3,414,000 after acquiring an additional 115,300 shares during the last quarter. Azora Capital LP raised its stake in shares of BrightSphere Investment Group by 4.4% during the fourth quarter. Azora Capital LP now owns 2,115,143 shares of the company’s stock valued at $40,526,000 after acquiring an additional 88,859 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of BrightSphere Investment Group during the second quarter valued at $1,870,000. Institutional investors own 98.69% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of BrightSphere Investment Group from a “buy” rating to a “hold” rating in a report on Monday, July 22nd.

BrightSphere Investment Group Stock Performance

Shares of BrightSphere Investment Group stock traded up $0.22 on Monday, reaching $24.39. 150,000 shares of the stock were exchanged, compared to its average volume of 274,739. The firm’s 50 day moving average is $23.55 and its 200-day moving average is $22.92. BrightSphere Investment Group has a one year low of $15.23 and a one year high of $26.57. The firm has a market cap of $904.14 million, a PE ratio of 14.87 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $109.00 million during the quarter, compared to the consensus estimate of $104.72 million. BrightSphere Investment Group had a net margin of 15.00% and a return on equity of 871.33%. During the same quarter in the prior year, the firm posted $0.28 EPS. On average, equities research analysts expect that BrightSphere Investment Group will post 2.31 EPS for the current fiscal year.

BrightSphere Investment Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Friday, September 13th. 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.