Brookfield Asset Management Ltd. (NYSE:BAM) Short Interest Update

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 12,460,000 shares, a growth of 19.2% from the August 15th total of 10,450,000 shares. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is presently 11.5 days. Currently, 3.6% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BAM. Private Advisor Group LLC lifted its stake in Brookfield Asset Management by 14.7% in the 4th quarter. Private Advisor Group LLC now owns 12,511 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 1,599 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Brookfield Asset Management during the fourth quarter worth about $221,000. Janney Montgomery Scott LLC purchased a new position in Brookfield Asset Management during the fourth quarter worth about $7,605,000. Vanguard Personalized Indexing Management LLC increased its stake in Brookfield Asset Management by 24.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,527 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 2,698 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Brookfield Asset Management in the 4th quarter valued at about $239,421,000. Institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Price Performance

Shares of BAM traded up $0.15 during trading hours on Friday, hitting $44.85. The company’s stock had a trading volume of 1,606,517 shares, compared to its average volume of 1,320,094. The business has a 50 day simple moving average of $41.11 and a two-hundred day simple moving average of $40.28. Brookfield Asset Management has a 52-week low of $28.35 and a 52-week high of $45.24. The company has a market cap of $19.91 billion, a price-to-earnings ratio of 41.53, a PEG ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Friday, August 9th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The business had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Research analysts predict that Brookfield Asset Management will post 1.42 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. Investors of record on Friday, August 30th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.39%. Brookfield Asset Management’s payout ratio is 140.74%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. CIBC raised their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the company an “outperformer” rating in a research report on Friday, July 19th. The Goldman Sachs Group upped their target price on Brookfield Asset Management from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday. Scotiabank dropped their price target on 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. TD Securities raised their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group started coverage on Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.81.

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.