The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. BrightSphere Investment Group Inc shares valued at $1,996,455 were purchased by Hart Richard Jonathan on Nov 11 ’24. At $28.52 per share, Hart Richard Jonathan acquired 70,000 shares.
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Also, Hart Richard Jonathan sold 70,000 shares, netting a total of over 1,996,400 in proceeds. Following the sale of shares at $28.52 each, the insider now holds 155,778 shares.
Before that, Rana Suren had sold 109,960 shares from its account. In a trade valued at $2,280,361, the President and CEO traded BrightSphere Investment Group Inc shares for $20.74 each. Upon closing the transaction, the insider’s holdings decreased to 109,960 shares, worth approximately $4.09 million.
As published in a research note from Morgan Stanley on October 18, 2024, BrightSphere Investment Group Inc [BSIG] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $26 from $23. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid December. As of October 29, 2021, Keefe Bruyette has decreased its “an Outperform” rating to a “Mkt perform” for BSIG. Earlier on April 09, 2021, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for BSIG stock which previously was a “a Neutral”.
Analyzing BSIG Stock Performance
During the last five days, there has been a surge of approximately 3.38%. Over the course of the year, BrightSphere Investment Group Inc shares have jumped approximately 62.89%. Shares of the company reached a 52-week high of $31.51 on 11/27/24 and a 52-week low of $18.09 on 01/05/24. A 50-day SMA is recorded $27.14, while a 200-day SMA reached $24.03. Nevertheless, trading volume fell to 0.13 million shares from 0.16 million shares the previous day.
Support And Resistance Levels for BrightSphere Investment Group Inc (BSIG)
According to the 24-hour chart, there is a support level at 30.93, which, if violated, would cause prices to drop to 30.65. In the upper region, resistance lies at 31.50. The next price resistance is at 31.80. RSI (Relative Strength Index) is 76.48 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.91, which suggests the price will decrease in the coming days. Percent R is at 6.43%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
