Short Interest in Brookfield Asset Management Ltd. (NYSE:BAM) Declines By 33.0%

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) saw a significant decline in short interest in September. As of September 15th, there was short interest totaling 14,750,000 shares, a decline of 33.0% from the August 31st total of 22,010,000 shares. Based on an average trading volume of 2,260,000 shares, the short-interest ratio is presently 6.5 days. Approximately 3.5% of the shares of the stock are short sold. Approximately 3.5% of the shares of the stock are short sold. Based on an average trading volume of 2,260,000 shares, the short-interest ratio is presently 6.5 days.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $57.97 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $59.52 and a 200-day moving average of $56.19. The firm has a market cap of $94.95 billion, a P/E ratio of 38.91, a P/E/G ratio of 2.12 and a beta of 1.39. Brookfield Asset Management has a 1-year low of $41.78 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. Sell-side analysts expect that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.4375 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 3.0%. Brookfield Asset Management’s dividend payout ratio (DPR) is 117.45%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BAM. Weiss Ratings reiterated a “buy (b)” rating on shares of Brookfield Asset Management in a research report on Saturday, September 27th. Jefferies Financial Group boosted their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, August 13th. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $58.00 price target on shares of Brookfield Asset Management in a research note on Thursday, August 7th. Finally, Wells Fargo & Company boosted their price target on shares of Brookfield Asset Management from $55.00 to $57.00 and gave the stock an “underweight” rating in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.52.

Institutional Trading of Brookfield Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GoalVest Advisory LLC lifted its holdings in Brookfield Asset Management by 9.5% in the second quarter. GoalVest Advisory LLC now owns 2,180 shares of the financial services provider’s stock worth $121,000 after buying an additional 190 shares during the period. Kirr Marbach & Co. LLC IN lifted its holdings in Brookfield Asset Management by 0.6% in the first quarter. Kirr Marbach & Co. LLC IN now owns 35,400 shares of the financial services provider’s stock worth $1,715,000 after buying an additional 203 shares during the period. Lincoln Capital LLC lifted its holdings in Brookfield Asset Management by 0.9% in the first quarter. Lincoln Capital LLC now owns 23,151 shares of the financial services provider’s stock worth $1,145,000 after buying an additional 210 shares during the period. Focus Financial Network Inc. lifted its holdings in Brookfield Asset Management by 5.2% in the first quarter. Focus Financial Network Inc. now owns 4,442 shares of the financial services provider’s stock worth $215,000 after buying an additional 218 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in Brookfield Asset Management by 7.8% in the second quarter. SBI Securities Co. Ltd. now owns 3,454 shares of the financial services provider’s stock worth $191,000 after buying an additional 250 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

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.