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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) saw a significant growth in short interest in 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. Approximately 3.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is currently 11.5 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Brookfield Asset Management during the second quarter worth $830,000. Clearbridge Investments LLC lifted its position in Brookfield Asset Management by 5.0% in the 2nd quarter. Clearbridge Investments LLC now owns 18,217 shares of the financial services provider’s stock valued at $693,000 after acquiring an additional 875 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Brookfield Asset Management during the 2nd quarter valued at about $201,000. B. Riley Wealth Advisors Inc. bought a new stake in Brookfield Asset Management during the 2nd quarter worth approximately $201,000. Finally, Ascent Group LLC raised its stake in shares of Brookfield Asset Management by 75.7% in the second quarter. Ascent Group LLC now owns 10,655 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 4,590 shares during the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BMO Capital Markets upped 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 research note on Wednesday. TD Securities lifted their price target on shares of Brookfield Asset Management from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their price target on Brookfield Asset Management from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on Brookfield Asset Management from $41.00 to $47.00 and gave the company a “buy” rating in a report on Thursday. Finally, Scotiabank cut their target price on Brookfield Asset Management from $46.00 to $45.50 and set a “sector outperform” rating for the company in a research report on Thursday, August 8th. Three 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 presently has an average rating of “Hold” and an average target price of $43.81.

Brookfield Asset Management Stock Performance

Shares of NYSE:BAM traded up $0.15 during trading on Friday, reaching $44.85. The stock had a trading volume of 1,606,517 shares, compared to its average volume of 1,320,094. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of 41.53, a P/E/G ratio of 2.26 and a beta of 1.56. Brookfield Asset Management has a 52 week low of $28.35 and a 52 week high of $45.24. The firm’s fifty day moving average is $41.11 and its 200 day moving average is $40.28.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $916.00 million during the quarter, compared to analyst estimates 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 firm earned $0.28 earnings per share. On average, research analysts forecast that Brookfield Asset Management will post 1.42 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

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 issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.39%. Brookfield Asset Management’s dividend payout ratio is currently 140.74%.

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.