Balyasny Asset Management L.P. Sells 166,521 Shares of BRP Inc. (NASDAQ:DOOO)

Balyasny Asset Management L.P. trimmed its holdings in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 88.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,383 shares of the company's stock after selling 166,521 shares during the quarter. Balyasny Asset Management L.P.'s holdings in BRP were worth $1,088,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Capital World Investors increased its holdings in shares of BRP by 101.2% during the fourth quarter. Capital World Investors now owns 1,971,033 shares of the company's stock worth $100,386,000 after purchasing an additional 991,392 shares during the period. FIL Ltd increased its stake in BRP by 176.2% during the 4th quarter. FIL Ltd now owns 792,000 shares of the company's stock worth $40,337,000 after acquiring an additional 505,228 shares during the period. Norges Bank bought a new position in BRP during the 4th quarter worth $15,259,000. The Manufacturers Life Insurance Company increased its stake in BRP by 23.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,514,230 shares of the company's stock worth $77,223,000 after acquiring an additional 288,004 shares during the period. Finally, Invesco Ltd. increased its stake in BRP by 18.1% during the 4th quarter. Invesco Ltd. now owns 1,163,257 shares of the company's stock worth $59,175,000 after acquiring an additional 178,039 shares during the period.

BRP Trading Up 1.8%

DOOO traded up $0.65 during midday trading on Friday, hitting $37.41. 116,447 shares of the company were exchanged, compared to its average volume of 160,025. The firm has a market capitalization of $2.73 billion, a P/E ratio of 19.90 and a beta of 1.17. BRP Inc. has a 1-year low of $31.78 and a 1-year high of $74.00. The firm's 50 day moving average price is $35.62 and its 200-day moving average price is $43.72. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.97 billion. As a group, equities analysts forecast that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a $0.1508 dividend. The ex-dividend date was Friday, April 4th. This is a positive change from BRP's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 1.61%. BRP's dividend payout ratio (DPR) is -29.21%.

Analyst Ratings Changes

A number of equities analysts have commented on DOOO shares. UBS Group lowered their price objective on BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and issued a $43.00 target price (down previously from $48.00) on shares of BRP in a report on Friday, April 4th. Raymond James reissued a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. Citigroup raised BRP from a "sell" rating to a "neutral" rating and raised their price objective for the company from $27.00 to $37.00 in a report on Friday, April 4th. Finally, TD Securities reaffirmed a "hold" rating on shares of BRP in a report on Thursday, March 27th. Ten analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $53.75.

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.