Brookfield Asset Management Sees Significant Decline in Short Interest (BAM)
Brookfield Asset Management (NYSE:BAM) saw a large decline in short interest in June. As of June 13th, there was short interest totalling 3,150,896 shares, a decline of 28.8% from the May 30th total of 4,424,785 shares, Analyst RN reports. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily volume of 459,568 shares, the short-interest ratio is presently 6.9 days.
BAM has been the subject of a number of recent research reports. 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 a consensus rating of “Hold” and an average price target of $46.16.
Brookfield Asset Management (NYSE:BAM) opened at 43.92 on Thursday. Brookfield Asset Management has a 52 week low of $33.67 and a 52 week high of $44.70. The stock’s 50-day moving average is $43.58 and its 200-day moving average is $40.88. The company has a market cap of $27.050 billion and a price-to-earnings ratio of 12.86.
Brookfield Asset Management (NYSE:BAM) last posted its quarterly earnings results 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. Analysts expect that Brookfield Asset Management will post $1.74 EPS for the current fiscal year.
Brookfield Asset Management Inc (NYSE:BAM) is a global alternative asset manager.
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