Walleye Capital LLC Buys 20,077 Shares of BRP Inc. $DOO

Key Points

• Walleye Capital increased its BRP stake by 224.1% in the second quarter, buying 20,077 additional shares to reach 29,035 shares valued at approximately $1.77 million.
• Several major institutional investors, including Mackenzie Financial, T. Rowe Price, Capital World Investors, FIL and Vanguard, established new BRP positions during the fourth quarter.
• Analyst sentiment is mixed, with four Buy ratings and ten Holds, producing an overall “Hold” consensus and an average price target of $83. BRP shares recently traded at $64.51 and pay a quarterly dividend of $0.25 per share.

Walleye Capital LLC grew its stake in BRP Inc. (NASDAQ:DOO - Free Report) by 224.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,035 shares of the company's stock after purchasing an additional 20,077 shares during the period. Walleye Capital LLC's holdings in BRP were worth $1,772,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOO. Mackenzie Financial Corp acquired a new position in BRP during the 4th quarter worth approximately $207,651,000. Price T Rowe Associates Inc. MD acquired a new stake in BRP in the fourth quarter valued at approximately $169,341,000. Capital World Investors acquired a new stake in BRP in the fourth quarter valued at approximately $158,763,000. FIL Ltd bought a new stake in shares of BRP during the fourth quarter worth $123,110,000. Finally, Vanguard Group Inc. bought a new stake in shares of BRP during the fourth quarter worth $98,153,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DOO shares. UBS Group lowered their price target on shares of BRP from $78.00 to $68.00 and set a "neutral" rating for the company in a report on Friday, June 5th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of BRP in a report on Friday, May 29th. Stifel Nicolaus lowered BRP from a "buy" rating to a "hold" rating in a research report on Friday, May 29th. Citigroup lowered their target price on BRP from $75.00 to $74.00 and set a "buy" rating for the company in a report on Friday, May 29th. Finally, Zacks Research upgraded BRP from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $83.00.

BRP Price Performance

Shares of NASDAQ:DOO opened at $64.51 on Friday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30. BRP Inc. has a 52 week low of $48.83 and a 52 week high of $81.89. The firm has a market cap of $4.73 billion, a PE ratio of 24.34 and a beta of 0.88. The firm's fifty day moving average is $60.99 and its 200-day moving average is $64.70.

BRP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 30th. BRP's dividend payout ratio (DPR) is currently 26.42%.

About BRP

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.

Want to see what other hedge funds are holding DOO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BRP Inc. (NASDAQ:DOO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source