Polar Asset Management Partners Inc. Purchases Shares of 40,000 BRP Inc (NASDAQ:DOOO)

Polar Asset Management Partners Inc. purchased a new stake in shares of BRP Inc (NASDAQ:DOOO) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 40,000 shares of the company’s stock, valued at approximately $1,434,000.

Other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of BRP in the first quarter worth approximately $391,000. Highstreet Asset Management Inc. grew its holdings in shares of BRP by 3.4% in the first quarter. Highstreet Asset Management Inc. now owns 71,617 shares of the company’s stock worth $1,987,000 after purchasing an additional 2,368 shares during the last quarter. Annex Advisory Services LLC bought a new position in shares of BRP in the second quarter worth approximately $208,000. JPMorgan Chase & Co. grew its holdings in shares of BRP by 562.8% in the second quarter. JPMorgan Chase & Co. now owns 382,323 shares of the company’s stock worth $13,632,000 after purchasing an additional 324,639 shares during the last quarter. Finally, AGF Investments Inc. grew its holdings in shares of BRP by 29.1% in the second quarter. AGF Investments Inc. now owns 356,581 shares of the company’s stock worth $12,743,000 after purchasing an additional 80,455 shares during the last quarter. Hedge funds and other institutional investors own 27.70% of the company’s stock.

Several research analysts have recently issued reports on the stock. TD Securities upgraded shares of BRP from a “hold” rating to a “buy” rating in a report on Friday, August 30th. Desjardins set a $66.00 target price on shares of BRP and gave the stock a “buy” rating in a report on Friday, August 30th. ValuEngine upgraded shares of BRP from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, Zacks Investment Research upgraded shares of BRP from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $45.69.



NASDAQ:DOOO traded down $0.56 during trading hours on Tuesday, hitting $38.71. The company had a trading volume of 14,924 shares, compared to its average volume of 26,546. The company has a market capitalization of $3.51 billion and a PE ratio of 16.24. The stock has a 50-day moving average price of $34.17 and a 200 day moving average price of $32.24. BRP Inc has a 52 week low of $23.90 and a 52 week high of $48.51.

BRP (NASDAQ:DOOO) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.06. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.01 billion. BRP had a net margin of 5.11% and a negative return on equity of 73.27%. On average, sell-side analysts forecast that BRP Inc will post 2.79 EPS for the current fiscal year.

The business also recently declared a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.0752 dividend. This represents a yield of 0.8%. The ex-dividend date is Thursday, September 26th. BRP’s dividend payout ratio (DPR) is currently 13.03%.

About BRP

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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