Short Interest in Brookfield Asset Management Ltd. (NYSE:BAM) Expands By 29.7%

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 13,670,000 shares, an increase of 29.7% from the May 15th total of 10,540,000 shares. Based on an average daily trading volume, of 1,710,000 shares, the short-interest ratio is presently 8.0 days. Currently, 4.0% of the shares of the stock are short sold.

Brookfield Asset Management Stock Performance

NYSE BAM traded up $0.10 on Monday, hitting $38.11. 813,694 shares of the stock were exchanged, compared to its average volume of 1,452,243. The stock has a fifty day moving average price of $39.35 and a two-hundred day moving average price of $39.68. The firm has a market capitalization of $16.85 billion, a P/E ratio of 35.19, a P/E/G ratio of 1.71 and a beta of 1.67. Brookfield Asset Management has a 52-week low of $28.35 and a 52-week high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $884.00 million during the quarter. Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. Sell-side analysts expect that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Friday, May 31st. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Institutional Trading of Brookfield Asset Management

Large investors have recently made changes to their positions in the stock. YHB Investment Advisors Inc. purchased a new stake in shares of Brookfield Asset Management during the first quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Brookfield Asset Management by 574.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 758 shares during the period. Quent Capital LLC raised its holdings in shares of Brookfield Asset Management by 62.4% in the first quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 435 shares in the last quarter. Bfsg LLC bought a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $51,000. Finally, Headlands Technologies LLC bought a new stake in shares of Brookfield Asset Management in the first quarter valued at about $53,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Scotiabank reduced their price target on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. began coverage on shares of Brookfield Asset Management in a research report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.14.

About Brookfield Asset Management

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.