BrightSpire Capital Inc. [BRSP] Insider Activity: An Update for Investors

CHWY Stock
CHWY Stock

BrightSpire Capital Inc.’s recent filing unveils that its 10% Owner DigitalBridge Group, Inc. unloaded Company’s shares for reported $209.47 million on Mar 01. In the deal valued at $6.00 per share,34,911,944 shares were sold. As a result of this transaction, DigitalBridge Group, Inc. now holds 79,001 shares worth roughly $ 0.54 million.

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Price Performance Review of BRSP

On Monday, BrightSpire Capital Inc. [NYSE:BRSP] saw its stock jump 4.42% to $6.85. On the same session, the stock had its day’s lowest price of $6.61, but rose to a high of $6.89. Over the last five days, the stock has gained 7.03%. BrightSpire Capital Inc. shares have risen nearly 9.95% since the year began. Nevertheless, the stocks have fallen -23.38% over the past one year. While a 52-week high of $8.95 was reached on 02/02/23, a 52-week low of $5.21 was recorded on 05/04/23. SMA at 50 days reached $6.87, while 200 days put it at $6.59. A total of 0.62 million shares were traded, compared to the trading of 0.41 million shares in the previous session.

Levels Of Support And Resistance For BRSP Stock

The 24-hour chart illustrates a support level at 6.68, which if violated will result in even more drops to 6.50. On the upside, there is a resistance level at 6.96. A further resistance level may holdings at 7.06. The Relative Strength Index (RSI) on the 14-day chart is 53.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.68%. Stochastics %K at 53.64% indicates the stock is a holding.

How much short interest is there in BrightSpire Capital Inc.?

A steep rise in short interest was recorded in BrightSpire Capital Inc. stocks on Aug 14, 2023, dropping by -0.92 million shares to a total of 2.41 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.33 million shares. There was a decline of -38.17%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.89% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.42.

BrightSpire Capital Inc. [BRSP] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 12,188,206 shares, or roughly 9.38% of the outstanding BRSP shares. In other words, the investor’s shares have risen by 384,323 from its previous 13-F filing of 11803883.0.. Over the last quarter, Conversant Capital LLC sold -825,000 shares of BrightSpire Capital Inc., while Private Management Group, Inc. sold 1,200,385 shares. At present, Geode Capital Management LLC is holding 2,632,373 shares valued at $19.37 million. SSgA Funds Management, Inc. owned 2,626,788 shares of the company at the time of its most recent 13F filing, worth $19.33 million.

According to FactSet, BrightSpire Capital Inc.’s share price will average $8.63 in the next year, based on opinions of analysts polled by the firm. This is up nearly 33.38 percent from its previous closing price of $6.56. Analysts expect BrightSpire Capital Inc. stock to reach the higher price of $10.00, while the lowest price estimate is $7.00. However, 6 analysts have rated BRSP stock as an Overweight in their predictions for 2023.


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