Aigen Investment Management LP Purchases Shares of 13,350 BRP Inc. (NASDAQ:DOOO)

Key Points

• Aigen Investment Management LP has acquired a new stake in BRP Inc. (NASDAQ: DOOO) by purchasing 13,350 shares valued at approximately $451,000 in the first quarter.
• BRP's dividend increased from $0.15 to $0.1557 per quarter, reflecting an annualized dividend yield of 1.1%, despite a negative dividend payout ratio of -153.66%.
• Analysts have a consensus rating of "Moderate Buy" for BRP, with price targets ranging from $35.00 to $51.00, reflecting varied outlooks on the stock's performance.

Aigen Investment Management LP bought a new position in BRP Inc. (NASDAQ:DOOO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,350 shares of the company's stock, valued at approximately $451,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of BRP by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company's stock worth $1,823,000 after acquiring an additional 293 shares during the period. Dnca Finance lifted its stake in shares of BRP by 36.1% in the 4th quarter. Dnca Finance now owns 1,390 shares of the company's stock worth $71,000 after acquiring an additional 369 shares during the period. Jane Street Group LLC lifted its stake in BRP by 1.4% during the fourth quarter. Jane Street Group LLC now owns 65,470 shares of the company's stock valued at $3,333,000 after purchasing an additional 933 shares during the last quarter. Addenda Capital Inc. lifted its stake in BRP by 10.3% during the first quarter. Addenda Capital Inc. now owns 14,699 shares of the company's stock valued at $497,000 after purchasing an additional 1,368 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in BRP during the fourth quarter valued at approximately $229,000.

BRP Stock Down 1.7%

BRP stock traded down $0.95 during trading hours on Friday, hitting $56.60. The company had a trading volume of 407,672 shares, compared to its average volume of 235,421. The firm has a market capitalization of $4.13 billion, a P/E ratio of -138.05 and a beta of 1.24. The company has a debt-to-equity ratio of 5.85, a current ratio of 1.34 and a quick ratio of 0.58. The firm's fifty day moving average is $50.17 and its 200-day moving average is $42.52. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $72.84.

BRP (NASDAQ:DOOO - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. BRP had a negative net margin of 0.55% and a positive return on equity of 54.71%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, research analysts forecast that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were paid a $0.1557 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, June 30th. This is a boost from BRP's previous quarterly dividend of $0.15. BRP's dividend payout ratio (DPR) is -153.66%.

Analyst Upgrades and Downgrades

DOOO has been the subject of several recent research reports. TD Securities raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 30th. Citigroup reissued a "neutral" rating and set a $51.00 target price (up from $43.00) on shares of BRP in a research note on Monday, June 16th. UBS Group cut their price target on shares of BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Desjardins upgraded shares of BRP from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Stifel Canada upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 29th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, BRP has an average rating of "Moderate Buy" and a consensus price target of $43.00.

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.