Brookfield Asset Management Ltd. (NYSE:BAM) Short Interest Down 33.0% in September

Key Points

• Brookfield Asset Management experienced a significant decline in short interest of 33.0% in September, with a total of 14,750,000 shares sold short as of September 15th.
• Hedge funds currently hold 68.41% of the company's stock, with notable changes including a 93.3% increase in holdings by GAMMA Investing LLC during the third quarter.
• Analyst ratings for Brookfield Asset Management indicate a consensus of "Moderate Buy", with target prices ranging from $60.00 to $75.00, reflecting varied outlooks on the stock's performance.

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 14,750,000 shares, a drop of 33.0% from the August 31st total of 22,010,000 shares. Currently, 3.5% of the company's shares are sold short. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is presently 6.5 days. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is presently 6.5 days. Currently, 3.5% of the company's shares are sold short.

Hedge Funds Weigh In On Brookfield Asset Management

Large investors have recently made changes to their positions in the business. Heartwood Wealth Advisors LLC purchased a new stake in shares of Brookfield Asset Management in the 3rd quarter worth approximately $55,000. GAMMA Investing LLC boosted its holdings in Brookfield Asset Management by 93.3% in the third quarter. GAMMA Investing LLC now owns 831 shares of the financial services provider's stock worth $47,000 after acquiring an additional 401 shares in the last quarter. Canal Capital Management LLC grew its stake in shares of Brookfield Asset Management by 5.5% in the second quarter. Canal Capital Management LLC now owns 92,046 shares of the financial services provider's stock worth $5,088,000 after acquiring an additional 4,808 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Brookfield Asset Management by 149.6% during the second quarter. Osaic Holdings Inc. now owns 39,910 shares of the financial services provider's stock valued at $2,059,000 after acquiring an additional 23,923 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Brookfield Asset Management in the 2nd quarter worth about $212,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BAM shares. Weiss Ratings restated a "buy (b)" rating on shares of Brookfield Asset Management in a research report on Saturday, September 27th. CIBC increased their target price on Brookfield Asset Management from $70.00 to $71.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Piper Sandler decreased their price target on Brookfield Asset Management from $65.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, September 11th. Jefferies Financial Group boosted their price objective on Brookfield Asset Management from $55.00 to $62.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. Finally, TD Securities raised their target price on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $63.52.

Brookfield Asset Management Stock Down 0.0%

Brookfield Asset Management stock traded down $0.02 during trading hours on Monday, hitting $57.78. 1,039,116 shares of the stock traded hands, compared to its average volume of 2,067,098. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.14. Brookfield Asset Management has a one year low of $41.78 and a one year high of $64.10. The company has a market cap of $94.63 billion, a PE ratio of 38.78, a PEG ratio of 2.11 and a beta of 1.39. The firm's 50-day moving average price is $59.72 and its two-hundred day moving average price is $56.12.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%. On average, research analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, August 29th. Brookfield Asset Management's dividend payout ratio is 117.45%.

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.

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