BrightSphere Investment Group Inc. (NYSE:BSIG) Short Interest Up 10.7% in June

BrightSphere Investment Group Inc. (NYSE:BSIG) was the target of a large growth in short interest in the month of 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. Currently, 7.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 246,100 shares, the days-to-cover ratio is presently 11.8 days.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On BrightSphere Investment Group

A number of institutional investors have recently made changes to their positions in BSIG. Victory Capital Management Inc. boosted its stake in shares of BrightSphere Investment Group by 75.7% during the fourth quarter. Victory Capital Management Inc. now owns 452,834 shares of the company’s stock valued at $8,676,000 after acquiring an additional 195,036 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of BrightSphere Investment Group by 29.4% during the 1st quarter. Jennison Associates LLC now owns 759,391 shares of the company’s stock worth $17,344,000 after purchasing an additional 172,318 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of BrightSphere Investment Group by 351.9% during the third quarter. Qube Research & Technologies Ltd now owns 151,299 shares of the company’s stock worth $2,934,000 after buying an additional 117,818 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of BrightSphere Investment Group by 10.5% in 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 buying an additional 100,000 shares during the last quarter. Finally, Azora Capital LP lifted 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 buying an additional 88,859 shares during the period. 98.69% of the stock is owned by institutional investors and hedge funds.

BrightSphere Investment Group Stock Down 0.2 %

NYSE BSIG 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. The company has a 50 day simple moving average of $22.47 and a 200 day simple moving average of $21.84. The company has a market cap of $859.42 million, a price-to-earnings ratio of 13.88 and a beta of 1.45. BrightSphere Investment Group has a 52-week low of $15.23 and a 52-week high of $23.63.

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

BrightSphere Investment Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.01 per share. 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 (DPR) is presently 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.