Brookfield Asset Management Ltd. (NYSE:BAM) Short Interest Update

Key Points

• Brookfield Asset Management's short interest increased by 21.5% in August, totaling 22,010,000 shares as of August 31st, reflecting growing pessimism among investors.
• The company reported a loss in quarterly earnings, with earnings per share of $0.38, missing estimates by $0.01, and revenue of $1.11 billion, below expectations of $1.29 billion.
• Brookfield Asset Management announced a quarterly dividend of $0.4375 per share, to be paid on September 29th, with a payout ratio currently at 117.45%.

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 22,010,000 shares, an increase of 21.5% from the August 15th total of 18,120,000 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 2,260,000 shares, the short-interest ratio is presently 9.7 days. Based on an average daily trading volume, of 2,260,000 shares, the short-interest ratio is presently 9.7 days. Currently, 1.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America lowered shares of Brookfield Asset Management from a "buy" rating to a "neutral" rating and set a $68.00 price objective on the stock. in a research note on Thursday, September 4th. National Bankshares set a $71.00 price objective on shares of Brookfield Asset Management and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Jefferies Financial Group lifted their price target on shares of Brookfield Asset Management from $55.00 to $62.00 and gave the stock a "hold" rating in a research report on Wednesday, August 13th. BMO Capital Markets lifted their price target on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a "market perform" rating in a research report on Thursday, August 7th. Finally, National Bank Financial started coverage on shares of Brookfield Asset Management in a research report on Tuesday, July 29th. They issued an "outperform" rating and a $71.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $63.52.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Brookfield Asset Management by 1.8% in the first quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after purchasing an additional 302,852 shares in the last quarter. TD Asset Management Inc increased its position in shares of Brookfield Asset Management by 1.6% during the second quarter. TD Asset Management Inc now owns 15,589,384 shares of the financial services provider's stock worth $861,101,000 after acquiring an additional 250,068 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Brookfield Asset Management by 2.5% during the second quarter. Mackenzie Financial Corp now owns 11,400,930 shares of the financial services provider's stock worth $631,412,000 after purchasing an additional 282,853 shares during the last quarter. Norges Bank acquired a new position in Brookfield Asset Management during the second quarter worth $294,730,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Brookfield Asset Management by 25.5% during the second quarter. The Manufacturers Life Insurance Company now owns 4,218,119 shares of the financial services provider's stock worth $232,402,000 after purchasing an additional 857,994 shares during the last quarter. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Price Performance

Shares of BAM stock traded up $0.71 during trading hours on Monday, reaching $60.73. 620,947 shares of the company were exchanged, compared to its average volume of 2,086,519. Brookfield Asset Management has a fifty-two week low of $41.78 and a fifty-two week high of $64.10. The stock's fifty day moving average is $60.14 and its two-hundred day moving average is $55.38. The company has a market cap of $99.46 billion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 2.19 and a beta of 1.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.25.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results 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). Brookfield Asset Management had a return on equity of 41.12% and a net margin of 55.92%.The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.29 billion. Sell-side analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's dividend payout ratio is presently 117.45%.

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.