Short Interest in BRP Inc. (NASDAQ:DOOO) Rises By 10.8%

BRP Inc. (NASDAQ:DOOO) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 2,060,000 shares, a growth of 10.8% from the December 15th total of 1,860,000 shares. Approximately 9.7% of the shares of the company are short sold. Based on an average daily trading volume, of 145,700 shares, the short-interest ratio is presently 14.1 days.

BRP Price Performance

DOOO traded down $1.59 during trading on Monday, hitting $51.99. The company’s stock had a trading volume of 80,146 shares, compared to its average volume of 101,938. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 27.65 and a beta of 2.02. The firm’s 50 day moving average price is $50.40 and its two-hundred day moving average price is $58.34. BRP has a 12 month low of $46.85 and a 12 month high of $75.59.

BRP Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a $0.1485 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a yield of 1.14%. BRP’s payout ratio is presently 30.85%.

Institutional Trading of BRP

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE grew its stake in shares of BRP by 350.0% during the third quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after purchasing an additional 322 shares during the period. Quantbot Technologies LP lifted its position in BRP by 9.7% in the 3rd quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock valued at $228,000 after acquiring an additional 337 shares in the last quarter. Spartan Fund Management Inc. bought a new position in BRP during the 3rd quarter worth about $72,000. Addenda Capital Inc. raised its stake in shares of BRP by 10.5% in the 4th quarter. Addenda Capital Inc. now owns 13,331 shares of the company’s stock valued at $678,000 after purchasing an additional 1,265 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of BRP by 18.6% in the third quarter. Van ECK Associates Corp now owns 9,520 shares of the company’s stock valued at $567,000 after purchasing an additional 1,490 shares in the last quarter.

About BRP

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.