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

BRP Inc. (NASDAQ:DOOO) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 2,060,000 shares, a growth 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 company’s shares are short sold.

BRP Trading Down 3.0 %

NASDAQ DOOO traded down $1.59 during trading hours on Monday, hitting $51.99. 80,146 shares of the company’s stock were exchanged, compared to its average volume of 101,938. The business’s 50 day moving average is $50.40 and its 200-day moving average is $58.34. BRP has a 12-month low of $46.85 and a 12-month high of $75.59. The firm has a market capitalization of $3.80 billion, a P/E ratio of 27.65 and a beta of 2.02. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

BRP Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.1485 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.59 annualized dividend and a yield of 1.14%. BRP’s dividend payout ratio is presently 30.85%.

Institutional Investors Weigh In On BRP

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in BRP by 17.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock worth $24,159,000 after acquiring an additional 61,502 shares during the last quarter. Sei Investments Co. grew its stake in shares of BRP by 31.3% in the second quarter. Sei Investments Co. now owns 105,163 shares of the company’s stock valued at $6,734,000 after buying an additional 25,041 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of BRP by 8.3% in the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock valued at $12,978,000 after buying an additional 15,892 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of BRP by 154.5% in the third quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock valued at $7,347,000 after buying an additional 70,819 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of BRP by 13.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock valued at $73,027,000 after buying an additional 150,039 shares in the last quarter.

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.