BrightSphere Investment Group (NYSE:BSIG) Downgraded by Zacks Investment Research

BrightSphere Investment Group (NYSE:BSIGGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “BrightSphere Investment Group plc is a diversified multi-boutique asset management company. The Company focuses on equities and fixed income portfolios, as well as investments in timber and real estate sectors. BrightSphere Investment Group plc, formerly known as OM Asset Management plc, is based in London, United Kingdom. “

Several other research analysts also recently weighed in on the stock. Morgan Stanley decreased their price target on shares of BrightSphere Investment Group from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, April 8th. StockNews.com started coverage on shares of BrightSphere Investment Group in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.40.

BSIG traded down $0.33 during trading on Wednesday, hitting $20.67. The company’s stock had a trading volume of 566,733 shares, compared to its average volume of 653,837. BrightSphere Investment Group has a one year low of $18.64 and a one year high of $31.17. The firm has a market cap of $856.25 million, a PE ratio of 2.02 and a beta of 1.65. The business’s 50 day simple moving average is $21.12 and its 200-day simple moving average is $23.12.

A number of institutional investors and hedge funds have recently bought and sold shares of BSIG. Royal Bank of Canada grew its stake in BrightSphere Investment Group by 202.7% during the second quarter. Royal Bank of Canada now owns 3,971 shares of the company’s stock valued at $93,000 after acquiring an additional 2,659 shares in the last quarter. Morgan Stanley grew its stake in BrightSphere Investment Group by 95.2% during the second quarter. Morgan Stanley now owns 751,747 shares of the company’s stock valued at $17,613,000 after acquiring an additional 366,581 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in BrightSphere Investment Group by 179.7% during the third quarter. Goldman Sachs Group Inc. now owns 466,353 shares of the company’s stock valued at $12,186,000 after acquiring an additional 299,638 shares in the last quarter. Credit Suisse AG grew its stake in shares of BrightSphere Investment Group by 35.2% in the 3rd quarter. Credit Suisse AG now owns 73,440 shares of the company’s stock worth $1,920,000 after buying an additional 19,122 shares in the last quarter. Finally, PEAK6 Investments LLC grew its stake in shares of BrightSphere Investment Group by 100.3% in the 3rd quarter. PEAK6 Investments LLC now owns 35,756 shares of the company’s stock worth $934,000 after buying an additional 17,903 shares in the last quarter. 98.74% of the stock is owned by institutional investors.

BrightSphere Investment Group Company Profile (Get Rating)

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.

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