Van ECK Associates Corp Buys 66,627 Shares of BRP Inc. (NASDAQ:DOOO)

Van ECK Associates Corp increased its position in shares of BRP Inc. (NASDAQ:DOOO) by 699.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,147 shares of the company’s stock after buying an additional 66,627 shares during the quarter. Van ECK Associates Corp owned 0.10% of BRP worth $3,875,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in shares of BRP by 350.0% in the 3rd quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after acquiring an additional 322 shares during the period. Quantbot Technologies LP raised its stake in shares of BRP by 9.7% in the third quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock valued at $228,000 after purchasing an additional 337 shares in the last quarter. Addenda Capital Inc. lifted its position in BRP by 10.5% in the fourth quarter. Addenda Capital Inc. now owns 13,331 shares of the company’s stock worth $678,000 after purchasing an additional 1,265 shares during the period. Fiera Capital Corp boosted its stake in BRP by 2.1% during the third quarter. Fiera Capital Corp now owns 112,768 shares of the company’s stock worth $6,720,000 after buying an additional 2,340 shares in the last quarter. Finally, De Lisle Partners LLP boosted its stake in BRP by 10.8% during the third quarter. De Lisle Partners LLP now owns 27,605 shares of the company’s stock worth $1,643,000 after buying an additional 2,697 shares in the last quarter.

BRP Stock Performance

Shares of NASDAQ:DOOO opened at $43.91 on Thursday. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. The business’s fifty day moving average price is $49.32 and its two-hundred day moving average price is $54.97. BRP Inc. has a fifty-two week low of $40.68 and a fifty-two week high of $75.59. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 23.36 and a beta of 2.02.

BRP (NASDAQ:DOOO) last issued its earnings results on Friday, December 6th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.50 by $0.35. BRP had a net margin of 2.29% and a return on equity of 61.20%. As a group, analysts predict that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Cuts Dividend

The company also recently disclosed 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 1.35%. BRP’s dividend payout ratio is 30.85%.

Analyst Ratings Changes

Separately, Citigroup cut shares of BRP from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $97.00.

BRP 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.