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

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A was the target of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 7,280,000 shares, a decline of 10.6% from the November 30th total of 8,140,000 shares. Currently, 5.3% of the company's stock are sold short. Based on an average trading volume of 988,900 shares, the short-interest ratio is currently 7.4 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BAM shares. Scotiabank increased their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a "sector outperform" rating in a research report on Tuesday, November 5th. StockNews.com raised shares of Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Thursday, November 21st. Bank of America raised their target price on Brookfield Asset Management from $41.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Wells Fargo & Company lifted their price target on Brookfield Asset Management from $51.00 to $56.00 and gave the stock an "underweight" rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets increased their price objective on Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Brookfield Asset Management presently has an average rating of "Hold" and an average target price of $54.54.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its position in shares of Brookfield Asset Management by 0.4% in the third quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider's stock valued at $2,201,000 after buying an additional 188 shares during the last quarter. Pathstone Holdings LLC raised its holdings in Brookfield Asset Management by 1.0% in the 3rd quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider's stock valued at $1,379,000 after acquiring an additional 278 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in Brookfield Asset Management by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider's stock worth $315,000 after purchasing an additional 315 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock worth $52,000 after purchasing an additional 329 shares during the last quarter. Finally, Procyon Advisors LLC grew its position in shares of Brookfield Asset Management by 4.2% in the third quarter. Procyon Advisors LLC now owns 9,063 shares of the financial services provider's stock valued at $429,000 after purchasing an additional 366 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Down 0.7 %

Shares of Brookfield Asset Management stock traded down $0.40 on Wednesday, reaching $54.19. The company's stock had a trading volume of 462,784 shares, compared to its average volume of 1,213,455. The company has a market capitalization of $24.01 billion, a P/E ratio of 47.96, a PEG ratio of 2.43 and a beta of 1.41. The stock has a 50-day moving average price of $55.83 and a 200-day moving average price of $47.31. Brookfield Asset Management has a 52-week low of $37.19 and a 52-week high of $59.58.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. Sell-side analysts forecast that Brookfield Asset Management will post 1.47 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, November 29th. Brookfield Asset Management's payout ratio is 134.51%.

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.

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