Man Group plc lessened its holdings in shares of BRP Inc (NASDAQ:DOOO) by 32.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 223,634 shares of the company’s stock after selling 108,730 shares during the quarter. Man Group plc’s holdings in BRP were worth $8,707,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nuveen Asset Management LLC acquired a new stake in shares of BRP during the 2nd quarter valued at approximately $28,370,000. FMR LLC raised its holdings in shares of BRP by 700.7% during the first quarter. FMR LLC now owns 655,115 shares of the company’s stock worth $18,178,000 after purchasing an additional 573,296 shares during the period. OMERS ADMINISTRATION Corp bought a new position in shares of BRP in the 2nd quarter worth about $11,874,000. JPMorgan Chase & Co. lifted its position in shares of BRP by 562.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 382,323 shares of the company’s stock worth $13,632,000 after buying an additional 324,639 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of BRP by 154.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 300,709 shares of the company’s stock valued at $11,573,000 after buying an additional 182,448 shares during the period. Hedge funds and other institutional investors own 24.28% of the company’s stock.
Several equities research analysts recently weighed in on DOOO shares. TD Securities upgraded shares of BRP from a “hold” rating to a “buy” rating in a research note on Friday, August 30th. Northcoast Research restated a “buy” rating on shares of BRP in a research note on Friday, October 11th. Zacks Investment Research downgraded BRP from a “strong-buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Thursday, October 31st. ValuEngine downgraded BRP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Finally, Desjardins set a $66.00 target price on BRP and gave the stock a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $49.69.
BRP (NASDAQ:DOOO) last released its quarterly earnings results on Wednesday, November 27th. The company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.19. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.14 billion. BRP had a negative return on equity of 73.58% and a net margin of 5.66%. As a group, equities research analysts anticipate that BRP Inc will post 2.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be given a $0.076 dividend. This is a boost from BRP’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, December 26th. BRP’s dividend payout ratio (DPR) is currently 12.61%.
BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersport vehicles and marine products worldwide. It operates through two segments, Powersports and Marine. The company offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products consisting of snowmobiles and personal watercraft; and propulsion systems comprising engines for outboard and jet boats, karts, motorcycles, and recreational aircraft.
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