Wedge Capital Management L L P NC lifted its stake in Brightsphere Investment Group PLC (NYSE:BSIG) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,602 shares of the company’s stock after purchasing an additional 1,236 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Brightsphere Investment Group were worth $189,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Quantamental Technologies LLC bought a new stake in shares of Brightsphere Investment Group in the 1st quarter worth approximately $46,000. Nisa Investment Advisors LLC bought a new stake in shares of Brightsphere Investment Group in the 2nd quarter worth approximately $57,000. Aperio Group LLC bought a new stake in shares of Brightsphere Investment Group in the 2nd quarter worth approximately $108,000. Convergence Investment Partners LLC bought a new stake in shares of Brightsphere Investment Group in the 1st quarter worth approximately $109,000. Finally, SG Americas Securities LLC bought a new stake in shares of Brightsphere Investment Group in the 1st quarter worth approximately $122,000. 0.53% of the stock is currently owned by hedge funds and other institutional investors.
BSIG has been the topic of a number of analyst reports. Zacks Investment Research raised Brightsphere Investment Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Morgan Stanley dropped their price target on Brightsphere Investment Group from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada set a $17.00 price target on Brightsphere Investment Group and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Citigroup dropped their price target on Brightsphere Investment Group from $15.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.90.
BSIG stock traded down $0.08 during midday trading on Tuesday, hitting $8.64. The company’s stock had a trading volume of 249,275 shares, compared to its average volume of 422,488. The company has a market cap of $789.16 million and a PE ratio of 4.65. Brightsphere Investment Group PLC has a 12 month low of $8.40 and a 12 month high of $14.87. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.62. The firm’s 50-day moving average is $10.51 and its 200-day moving average is $12.37.
Brightsphere Investment Group (NYSE:BSIG) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $207.10 million for the quarter, compared to analysts’ expectations of $211.13 million. Brightsphere Investment Group had a return on equity of 214.61% and a net margin of 18.36%. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 EPS. Analysts expect that Brightsphere Investment Group PLC will post 1.8 earnings per share for the current year.
Brightsphere Investment Group Profile
BrightSphere Investment Group plc 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.
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