Short Interest in Brookfield Asset Management Ltd. (NYSE:BAM) Expands By 6.4%

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totalling 9,980,000 shares, a growth of 6.4% from the June 15th total of 9,380,000 shares. Based on an average daily volume of 1,700,000 shares, the days-to-cover ratio is currently 5.9 days. Currently, 2.7% of the shares of the stock are sold short.

Brookfield Asset Management Stock Down 0.6 %

Shares of Brookfield Asset Management stock traded down $0.23 during mid-day trading on Thursday, hitting $41.36. The stock had a trading volume of 378,273 shares, compared to its average volume of 1,367,886. The firm has a 50-day moving average of $39.12 and a two-hundred day moving average of $39.84. The firm has a market cap of $18.35 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 1.94 and a beta of 1.62. Brookfield Asset Management has a 12-month low of $28.35 and a 12-month high of $43.00.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Brookfield Asset Management had a return on equity of 98.98% and a net margin of 49.36%. The company had revenue of $884.00 million during the quarter. Sell-side analysts expect that Brookfield Asset Management will post 1.47 earnings per share for the current year.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.52 dividend on an annualized basis and a yield of 3.68%. Brookfield Asset Management’s payout ratio is currently 140.74%.

Analyst Ratings Changes

A number of research analysts have weighed in on BAM shares. JPMorgan Chase & Co. assumed coverage on Brookfield Asset Management in a report on Wednesday, May 15th. They issued a “neutral” rating and a $41.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Scotiabank lowered their price target on shares of Brookfield Asset Management from $47.00 to $44.50 and set a “sector outperform” rating on the stock in a research report on Thursday, May 9th. Finally, StockNews.com downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management has an average rating of “Hold” and an average target price of $42.14.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors have recently made changes to their positions in BAM. YHB Investment Advisors Inc. purchased a new stake in shares of Brookfield Asset Management in the 1st quarter valued at $26,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Brookfield Asset Management by 98.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 777 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 385 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Brookfield Asset Management by 574.2% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 890 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 758 shares in the last quarter. WASHINGTON TRUST Co increased its stake 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 worth $40,000 after buying an additional 640 shares during the period. Finally, Quent Capital LLC lifted its holdings in Brookfield Asset Management by 62.4% during the 1st quarter. Quent Capital LLC now owns 1,132 shares of the financial services provider’s stock worth $48,000 after buying an additional 435 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

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.