Brookfield Asset Management Ltd. (NYSE:BAM) Sees Significant Growth in Short Interest

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 20,710,000 shares, an increase of 67.7% from the April 30th total of 12,350,000 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average trading volume of 2,180,000 shares, the days-to-cover ratio is presently 9.5 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Integrity Alliance LLC. bought a new stake in shares of Brookfield Asset Management in the 1st quarter valued at approximately $281,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Brookfield Asset Management by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider's stock valued at $12,648,000 after acquiring an additional 24,013 shares during the last quarter. Ascent Group LLC grew its position in Brookfield Asset Management by 31.4% in the first quarter. Ascent Group LLC now owns 14,220 shares of the financial services provider's stock worth $689,000 after acquiring an additional 3,402 shares in the last quarter. United Services Automobile Association increased its stake in shares of Brookfield Asset Management by 3.6% during the 1st quarter. United Services Automobile Association now owns 12,824 shares of the financial services provider's stock worth $623,000 after purchasing an additional 445 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. acquired a new position in shares of Brookfield Asset Management during the 1st quarter worth $329,000. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Price Performance

BAM traded down $0.02 on Monday, reaching $56.08. 2,931,105 shares of the company traded hands, compared to its average volume of 1,433,434. The company has a market cap of $90.43 billion, a price-to-earnings ratio of 42.49, a PEG ratio of 1.92 and a beta of 1.56. The stock's 50 day moving average price is $52.29 and its 200-day moving average price is $54.34. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.29 billion. As a group, equities research 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, June 30th. Shareholders of record on Friday, May 30th will be paid a $0.4375 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.75 dividend on an annualized basis and a yield of 3.12%. Brookfield Asset Management's dividend payout ratio (DPR) is currently 124.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets boosted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a "market perform" rating in a research report on Thursday, February 13th. Scotiabank lifted their price target on Brookfield Asset Management from $58.00 to $59.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 14th. HSBC upgraded shares of Brookfield Asset Management from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Finally, Jefferies Financial Group cut their price target on shares of Brookfield Asset Management from $52.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.15.

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.