Bridgepoint Group (Reg S) (BPT)

Sector:

Financials

Index:

FTSE 250

476.00p
   
  • Change Today:
    -5.50p
  • 52 Week High: 569.00
  • 52 Week Low: 452.00
  • Currency: UK Pounds
  • Shares Issued: 823.27m
  • Volume: 355,201
  • Market Cap: £3,918.76m

Citi, JPMorgan start coverage of Bridgepoint

By Michele Maatouk

Date: Tuesday 31 Aug 2021

LONDON (ShareCast) - (Sharecast News) - JPMorgan Cazenove and Citi both initiated coverage of recently-listed Bridgepoint on Tuesday.
JPMorgan started coverage of the shares at 'overweight' with a 600p price target as it argued that growth in assets under management and operational leverage will drive strong earnings growth.

"Bridgepoint is a leading global private market asset manager, with AUM of €27.4bn as of March 2021," it noted. It said the AUM split is around 72%/28% private equity/private credit.

"Bridgepoint has delivered 13% AUM compound annual growth rate (2011-20), outpacing the industry 10% CAGR (2011-20)," JPM said.

It added that among the private market asset managers, it sees most upside in Bridgepoint and ICP.

Citi started Bridgepoint at 'neutral' with a 513p price target, highlighting strong mid-market private growth but a "rich" valuation.

The bank said key strategies include mid-market, lower mid-market and growth in private equity, as well as credit opportunities, direct lending and syndicated debt in private credit.

"Notable investments include Pret A Manger, Molton Brown & MotoGP," it said.

"We like the long-term growth prospects, but our sum-of-the-parts valuation (for management fees, performance fees & co-investment) suggests the share price is already full, post recent appreciation."

At 1245 BST, the shares were down 4% at 492.80p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BPT Market Data

Currency UK Pounds
Share Price 476.00p
Change Today -5.50p
% Change -1.14 %
52 Week High 569.00
52 Week Low 452.00
Volume 355,201
Shares Issued 823.27m
Market Cap £3,918.76m

BPT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
30.72% below the market average30.72% below the market average30.72% below the market average30.72% below the market average30.72% below the market average
13.04% below the sector average13.04% below the sector average13.04% below the sector average13.04% below the sector average13.04% below the sector average
Income Not Available
Growth Not Available

Trades for 03-Dec-2021

Time Volume / Share Price
16:35 111,536 @ 476.00p
16:29 7 @ 472.50p
16:29 76 @ 472.50p
16:29 143 @ 472.50p
16:27 141 @ 473.00p

BPT Key Personnel

CFO Adam Jones

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