BRP Inc. (NASDAQ:DOOO) Short Interest Up 10.8% in December

BRP Inc. (NASDAQ:DOOO - Get Free Report) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 2,060,000 shares, an increase of 10.8% from the December 15th total of 1,860,000 shares. Based on an average daily trading volume, of 145,700 shares, the days-to-cover ratio is presently 14.1 days. Currently, 9.7% of the shares of the company are sold short.

BRP Stock Performance

DOOO stock traded down $1.59 during midday trading on Monday, hitting $51.99. The stock had a trading volume of 80,146 shares, compared to its average volume of 101,938. BRP has a 52 week low of $46.85 and a 52 week high of $75.59. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The stock has a 50-day simple moving average of $50.46 and a 200 day simple moving average of $58.26. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 27.65 and a beta of 2.02.

BRP Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.1485 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.59 annualized dividend and a dividend yield of 1.14%. BRP's dividend payout ratio (DPR) is currently 30.85%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE raised its stake in BRP by 350.0% during the third quarter. US Bancorp DE now owns 414 shares of the company's stock worth $25,000 after acquiring an additional 322 shares in the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of BRP during the 3rd quarter worth about $72,000. DRW Securities LLC bought a new position in BRP during the 3rd quarter valued at about $161,000. Public Employees Retirement System of Ohio acquired a new position in BRP in the third quarter valued at about $178,000. Finally, Intech Investment Management LLC bought a new stake in BRP during the second quarter worth about $209,000.

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.