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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) saw a large decrease in short interest in July. As of July 31st, there was short interest totalling 9,490,000 shares, a decrease of 8.0% from the July 15th total of 10,320,000 shares. Approximately 2.6% of the company’s stock are sold short. Based on an average daily trading volume, of 1,220,000 shares, the days-to-cover ratio is currently 7.8 days.

Brookfield Asset Management Stock Down 1.7 %

NYSE:BAM opened at $39.91 on Wednesday. The stock has a fifty day simple moving average of $39.84 and a 200-day simple moving average of $40.13. Brookfield Asset Management has a 52-week low of $28.35 and a 52-week high of $44.38. The company has a market capitalization of $17.71 billion, a PE ratio of 36.95, a price-to-earnings-growth ratio of 1.95 and a beta of 1.57.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Friday, August 9th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 49.36% and a return on equity of 98.98%. The business had revenue of $916.00 million during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. As a group, equities analysts anticipate that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.81%. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

Analyst Ratings Changes

BAM has been the topic of a number of analyst reports. CIBC raised their price objective on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a report on Friday, July 19th. Scotiabank reduced their price objective on shares of Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Finally, StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BAM. YHB Investment Advisors Inc. purchased a new stake in Brookfield Asset Management in the 1st quarter valued at about $26,000. Massmutual Trust Co. FSB ADV grew its holdings in Brookfield Asset Management by 98.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock valued at $30,000 after buying an additional 385 shares during the period. Continuum Advisory LLC grew its holdings in shares of Brookfield Asset Management by 57.6% during the 2nd quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Brookfield Asset Management by 574.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 758 shares during the period. Finally, Richardson Financial Services Inc. grew its holdings in shares of Brookfield Asset Management by 368.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 960 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 755 shares during the period. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

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.