BRP Inc (NASDAQ:DOOO) Shares Sold by Man Group plc

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.

NASDAQ DOOO opened at $48.35 on Friday. BRP Inc has a 52 week low of $23.90 and a 52 week high of $51.46. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 1.17 and a beta of 2.06. The company has a 50-day moving average price of $45.75 and a two-hundred day moving average price of $37.43.

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 Profile

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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Institutional Ownership by Quarter for BRP (NASDAQ:DOOO)

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