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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 9,380,000 shares, a decrease of 31.4% from the May 31st total of 13,670,000 shares. Based on an average daily trading volume, of 1,760,000 shares, the short-interest ratio is presently 5.3 days. Approximately 2.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. YHB Investment Advisors Inc. purchased a new position in Brookfield Asset Management during the 1st quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Brookfield Asset Management by 574.2% in 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 acquiring an additional 758 shares during the period. Quent Capital LLC increased its holdings in Brookfield Asset Management by 62.4% during the 1st quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 435 shares during the period. Bfsg LLC bought a new stake in Brookfield Asset Management during the 4th quarter worth approximately $51,000. Finally, Headlands Technologies LLC purchased a new stake in Brookfield Asset Management in the 1st quarter worth approximately $53,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 0.4 %

BAM stock traded down $0.14 during mid-day trading on Friday, reaching $38.05. 1,020,325 shares of the company traded hands, compared to its average volume of 1,257,189. The firm’s 50 day moving average price is $39.05 and its 200 day moving average price is $39.80. The stock has a market cap of $16.88 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 1.72 and a beta of 1.67. Brookfield Asset Management has a fifty-two week low of $28.35 and a fifty-two week high of $43.00.

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

Brookfield Asset Management Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.