VELA Investment Management LLC Acquires Shares of 22,420 BRP Inc. $DOOO

Key Points

• VELA Investment Management LLC acquired 22,420 shares of BRP Inc. during the 2nd quarter, valued at approximately $1,087,000, signaling institutional interest in the company.
• BRP recently announced an increase in its quarterly dividend from $0.16 to $0.215, representing an annualized yield of 1.3%.
• BRP's stock is currently down 0.6%, with a market cap of $4.87 billion, and analysts predict an EPS of 3.15 for the current fiscal year.

VELA Investment Management LLC acquired a new stake in BRP Inc. (NASDAQ:DOOO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,420 shares of the company's stock, valued at approximately $1,087,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DOOO. Mackenzie Financial Corp increased its position in shares of BRP by 15.0% during the first quarter. Mackenzie Financial Corp now owns 1,884,728 shares of the company's stock worth $63,636,000 after acquiring an additional 245,463 shares during the last quarter. Fiera Capital Corp increased its position in shares of BRP by 5.5% during the first quarter. Fiera Capital Corp now owns 135,330 shares of the company's stock worth $4,574,000 after acquiring an additional 7,082 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of BRP by 10.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 109,158 shares of the company's stock worth $3,685,000 after acquiring an additional 10,004 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of BRP by 31.2% during the first quarter. Ontario Teachers Pension Plan Board now owns 64,941 shares of the company's stock worth $2,193,000 after acquiring an additional 15,447 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of BRP by 20.0% during the first quarter. National Bank of Canada FI now owns 495,657 shares of the company's stock worth $16,731,000 after acquiring an additional 82,723 shares during the last quarter.

BRP Stock Down 0.6%

NASDAQ:DOOO opened at $66.69 on Friday. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -277.88 and a beta of 1.19. BRP Inc. has a one year low of $31.78 and a one year high of $68.45. The stock has a 50-day simple moving average of $61.98 and a 200 day simple moving average of $49.26. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.55 and a current ratio of 1.34.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings results on Friday, August 29th. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.34. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.77 billion. BRP had a positive return on equity of 61.26% and a negative net margin of 0.34%. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. Sell-side analysts predict that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th were paid a $0.215 dividend. The ex-dividend date was Tuesday, September 30th. This is an increase from BRP's previous quarterly dividend of $0.16. This represents a $0.86 dividend on an annualized basis and a yield of 1.3%. BRP's payout ratio is presently -262.50%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Cibc World Mkts raised BRP from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 1st. Royal Bank Of Canada lifted their target price on BRP from $100.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday. TD Securities reaffirmed a "buy" rating on shares of BRP in a research report on Tuesday, September 2nd. BMO Capital Markets reaffirmed an "outperform" rating on shares of BRP in a research report on Tuesday, September 2nd. Finally, Zacks Research raised BRP from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BRP presently has an average rating of "Moderate Buy" and a consensus target price of $79.60.

BRP Company Profile

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.

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