Brookfield Asset Management Ltd. (NYSE:BAM) Sees Significant Decrease in Short Interest

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 9,510,000 shares, a drop of 9.3% from the September 15th total of 10,480,000 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is presently 9.1 days.

Brookfield Asset Management Price Performance

Shares of NYSE BAM traded up $0.77 during mid-day trading on Thursday, reaching $51.05. 1,672,620 shares of the company’s stock traded hands, compared to its average volume of 1,269,052. The business has a 50-day simple moving average of $44.06 and a 200 day simple moving average of $41.21. The stock has a market cap of $22.65 billion, a P/E ratio of 46.84, a PEG ratio of 2.26 and a beta of 1.56. Brookfield Asset Management has a 1-year low of $28.35 and a 1-year high of $51.40.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a return on equity of 92.37% and a net margin of 51.29%. The company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. Equities research analysts anticipate that Brookfield Asset Management will post 1.43 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 140.74%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Scotiabank cut their price target on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. TD Securities boosted their price target on Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a research report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of “Hold” and a consensus target price of $46.41.

Institutional Trading of Brookfield Asset Management

Institutional investors have recently made changes to their positions in the company. National Bank of Canada FI grew its position in Brookfield Asset Management by 15.5% during the first quarter. National Bank of Canada FI now owns 801,163 shares of the financial services provider’s stock valued at $31,742,000 after buying an additional 107,245 shares during the period. Confluence Investment Management LLC raised its holdings in shares of Brookfield Asset Management by 382.6% in the 2nd quarter. Confluence Investment Management LLC now owns 89,891 shares of the financial services provider’s stock worth $3,420,000 after purchasing an additional 71,263 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in Brookfield Asset Management in the first quarter valued at approximately $3,014,000. Intact Investment Management Inc. purchased a new position in Brookfield Asset Management in the second quarter valued at approximately $4,825,000. Finally, Pitcairn Co. bought a new position in Brookfield Asset Management during the first quarter valued at $525,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.