Russell Investments Group Ltd. Reduces Stock Position in BRP Inc. (NASDAQ:DOOO)

Russell Investments Group Ltd. trimmed its stake in shares of BRP Inc. (NASDAQ:DOOO) by 92.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,179 shares of the company’s stock after selling 27,722 shares during the period. Russell Investments Group Ltd.’s holdings in BRP were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DOOO. Signaturefd LLC lifted its holdings in shares of BRP by 296.1% during the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company’s stock valued at $61,000 after buying an additional 903 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in BRP during the fourth quarter valued at approximately $77,000. Intact Investment Management Inc. purchased a new position in shares of BRP during the 4th quarter valued at $148,000. Quantbot Technologies LP increased its stake in BRP by 26.6% in the 4th quarter. Quantbot Technologies LP now owns 4,844 shares of the company’s stock worth $246,000 after buying an additional 1,017 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in BRP during the fourth quarter valued at about $636,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Baird R W downgraded BRP from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Raymond James reissued a “strong-buy” rating on shares of BRP in a report on Thursday, March 27th. Citigroup raised shares of BRP from a “sell” rating to a “neutral” rating and raised their target price for the company from $27.00 to $37.00 in a research note on Friday, April 4th. TD Securities reiterated a “hold” rating on shares of BRP in a research note on Thursday, March 27th. Finally, UBS Group cut their price objective on BRP from $45.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, BRP presently has an average rating of “Hold” and an average price target of $53.75.

BRP Trading Down 0.1 %

Shares of NASDAQ DOOO opened at $34.52 on Friday. The stock has a market capitalization of $2.52 billion, a P/E ratio of 18.36 and a beta of 1.71. BRP Inc. has a 1-year low of $31.78 and a 1-year high of $74.00. The business’s 50 day moving average is $37.12 and its two-hundred day moving average is $45.77. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57.

BRP (NASDAQ:DOOO) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.62 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. As a group, research analysts expect that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were issued a dividend of $0.1508 per share. The ex-dividend date was Friday, April 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.75%. This is a boost from BRP’s previous quarterly dividend of $0.15. BRP’s payout ratio is presently -29.21%.

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.