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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 9,510,000 shares, a drop of 9.3% from the September 15th total of 10,480,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is presently 9.1 days.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors have recently made changes to their positions in BAM. Massmutual Trust Co. FSB ADV increased its stake in shares of Brookfield Asset Management by 98.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after buying an additional 385 shares during the period. Continuum Advisory LLC raised its stake in shares of Brookfield Asset Management by 57.6% during the second quarter. Continuum Advisory LLC now owns 780 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings 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 worth $37,000 after purchasing an additional 758 shares during the period. Richardson Financial Services Inc. grew its stake in shares of Brookfield Asset Management by 368.3% in the second 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 last quarter. Finally, WASHINGTON TRUST Co increased its holdings in Brookfield Asset Management by 151.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,063 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 640 shares during the period. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Brookfield Asset Management Stock Performance

BAM traded up $0.77 during trading on Thursday, reaching $51.05. The stock had a trading volume of 1,672,620 shares, compared to its average volume of 1,269,052. The business has a 50-day moving average of $44.06 and a 200-day moving average of $41.21. Brookfield Asset Management has a one year low of $28.35 and a one year high of $51.40. The stock has a market cap of $22.65 billion, a PE ratio of 46.84, a PEG ratio of 2.26 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced 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). The firm had revenue of $916.00 million for the quarter, compared to analysts’ expectations of $1.16 billion. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. During the same period in the prior year, the business posted $0.28 earnings per share. Equities research analysts forecast that Brookfield Asset Management will post 1.43 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.98%. Brookfield Asset Management’s payout ratio is 140.74%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group started coverage on Brookfield Asset Management in a report on Friday, August 2nd. They set a “hold” rating and a $43.00 target price for the company. Bank of America boosted their price objective on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. BMO Capital Markets raised their price target on shares of Brookfield Asset Management from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th. StockNews.com lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, TD Securities increased their price objective on Brookfield Asset Management from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $46.41.

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.