Morgan Stanley Sticks to Its Hold Rating for BrightSphere Investment Group (BSIG)

In a report released today, Michael Cyprys from Morgan Stanley maintained a Hold rating on BrightSphere Investment Group (BSIGResearch Report), with a price target of $13.00. The company’s shares closed last Wednesday at $12.31, close to its 52-week high of $13.00.

According to TipRanks.com, Cyprys is a 4-star analyst with an average return of 4.8% and a 54.6% success rate. Cyprys covers the Financial sector, focusing on stocks such as Virtus Investment Partners, Apollo Global Management, and Victory Capital Holdings.

BrightSphere Investment Group has an analyst consensus of Moderate Buy, with a price target consensus of $9.75.

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Based on BrightSphere Investment Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $183 million and net profit of $32.6 million. In comparison, last year the company earned revenue of $207 million and had a net profit of $52.7 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is neutral on the stock.

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BrightSphere Investment Group, Inc. is a holding company, which engages in the provision of asset management services. It also focuses on the development of new business opportunities in domestic and international markets. The company was founded on May 29, 2014 and is headquartered in Boston, MA.