BRP Inc. (NASDAQ:DOOO) Short Interest Update

BRP Inc. (NASDAQ:DOOO) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,060,000 shares, an increase of 10.8% from the December 15th total of 1,860,000 shares. Based on an average trading volume of 145,700 shares, the short-interest ratio is presently 14.1 days. Currently, 9.7% of the shares of the stock are sold short.

BRP Price Performance

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

BRP Cuts Dividend

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

Hedge Funds Weigh In On BRP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its position in BRP by 13.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock worth $73,027,000 after acquiring an additional 150,039 shares during the period. Franklin Resources Inc. increased its holdings in shares of BRP by 41.5% during the 3rd quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock worth $43,461,000 after purchasing an additional 214,626 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of BRP by 17.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company’s stock valued at $24,159,000 after buying an additional 61,502 shares during the last quarter. Ceredex Value Advisors LLC lifted its stake in shares of BRP by 27.5% in the third quarter. Ceredex Value Advisors LLC now owns 221,684 shares of the company’s stock valued at $13,233,000 after buying an additional 47,800 shares during the period. Finally, Geode Capital Management LLC grew its position in BRP by 8.3% during the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock worth $12,978,000 after buying an additional 15,892 shares in the last quarter.

About BRP

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.