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

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

Analyst Upgrades and Downgrades

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 Trading Down 0.2 %

BSIG stock traded down $0.04 during mid-day trading on Wednesday, hitting $22.76. The stock had a trading volume of 91,374 shares, compared to its average volume of 305,580. BrightSphere Investment Group has a 1-year low of $15.23 and a 1-year high of $23.63. The company has a fifty day moving average of $22.47 and a 200 day moving average of $21.84. The stock has a market capitalization of $859.42 million, a price-to-earnings ratio of 13.88 and a beta of 1.45.

BrightSphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.10. The firm had revenue of $105.70 million for the quarter, compared to the consensus estimate of $101.32 million. BrightSphere Investment Group had a return on equity of 438.16% and a net margin of 15.53%. As a group, sell-side analysts expect that BrightSphere Investment Group will post 2.22 earnings per share for the current fiscal year.

BrightSphere Investment Group Dividend Announcement

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

Hedge Funds Weigh In On BrightSphere Investment Group

Several hedge funds have recently bought and sold shares of BSIG. Azora Capital LP increased its holdings in shares of BrightSphere Investment Group by 4.4% during the 4th 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. Impax Asset Management Group plc grew its holdings in BrightSphere Investment Group by 10.5% during the fourth quarter. Impax Asset Management Group plc now owns 1,048,818 shares of the company’s stock valued at $20,095,000 after purchasing an additional 100,000 shares during the last quarter. Jennison Associates LLC raised its position in shares of BrightSphere Investment Group by 29.4% in the first quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock valued at $17,344,000 after purchasing an additional 172,318 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of BrightSphere Investment Group by 10.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 741,127 shares of the company’s stock worth $14,200,000 after buying an additional 68,114 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of BrightSphere Investment Group by 75.7% during the 4th quarter. Victory Capital Management Inc. now owns 452,834 shares of the company’s stock worth $8,676,000 after buying an additional 195,036 shares during the period. 98.69% of the stock is owned by institutional investors and hedge funds.

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.