Brookfield Asset Management Sees Large Drop in Short Interest (BAM)
Shares of Brookfield Asset Management (NYSE:BAM) were the target of a significant decrease in short interest in the month of May. As of May 30th, there was short interest totalling 4,424,785 shares, a decrease of 32.8% from the May 15th total of 6,589,249 shares, Analyst Ratings Network.com reports. Based on an average daily trading volume, of 1,042,443 shares, the days-to-cover ratio is currently 4.2 days. Approximately 0.8% of the shares of the stock are short sold.
A number of research firms have recently commented on BAM. Analysts at Desjardins raised their price target on shares of Brookfield Asset Management from $46.50 to $50.00 in a research note on Thursday, May 22nd. Separately, analysts at RBC Capital raised their price target on shares of Brookfield Asset Management from $45.00 to $47.00 in a research note on Friday, May 9th. Finally, analysts at CIBC raised their price target on shares of Brookfield Asset Management from $42.00 to $44.00 in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating, Brookfield Asset Management presently has an average rating of “Hold” and an average price target of $46.16.
Brookfield Asset Management (NYSE:BAM) opened at 42.97 on Wednesday. Brookfield Asset Management has a 52-week low of $33.67 and a 52-week high of $44.70. The stock has a 50-day moving average of $43.38 and a 200-day moving average of $40.42. The company has a market cap of $26.465 billion and a price-to-earnings ratio of 12.65.
Brookfield Asset Management (NYSE:BAM) last released its earnings data on Wednesday, May 7th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.64. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. On average, analysts predict that Brookfield Asset Management will post $1.74 earnings per share for the current fiscal year.
Brookfield Asset Management Inc (NYSE:BAM) is a global alternative asset manager.
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