Russell Investments Group Ltd. Trims Stock Position in BRP Inc. $DOO

Russell Investments Group Ltd. lessened its position in shares of BRP Inc. (NASDAQ:DOO) by 77.4% during the second quarter, HoldingsChannel.com reports. The fund owned 9,052 shares of the company’s stock after selling 30,926 shares during the period. Russell Investments Group Ltd.’s holdings in BRP were worth $553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its stake in BRP by 4,070.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company’s stock worth $43,000 after purchasing an additional 692 shares in the last quarter. TD Asset Management Inc grew its position in shares of BRP by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 232,711 shares of the company’s stock valued at $14,210,000 after purchasing an additional 8,239 shares in the last quarter. Walleye Capital LLC increased its holdings in shares of BRP by 224.1% in the second quarter. Walleye Capital LLC now owns 29,035 shares of the company’s stock worth $1,772,000 after purchasing an additional 20,077 shares during the period. VELA Investment Management LLC increased its holdings in shares of BRP by 60.7% in the second quarter. VELA Investment Management LLC now owns 45,333 shares of the company’s stock worth $2,766,000 after purchasing an additional 17,131 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of BRP by 324.1% in the first quarter. Lazard Asset Management LLC now owns 152,035 shares of the company’s stock worth $10,931,000 after buying an additional 116,189 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DOO shares. Stifel Nicolaus lowered BRP from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Citigroup decreased their target price on BRP from $75.00 to $74.00 and set a “buy” rating on the stock in a research note on Friday, May 29th. Zacks Research upgraded BRP from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. TD Securities reissued a “hold” rating on shares of BRP in a report on Friday, May 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of BRP in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, BRP has a consensus rating of “Hold” and an average price target of $83.00.

BRP Trading Down 0.4%

Shares of DOO opened at $64.51 on Friday. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 24.34 and a beta of 0.88. The firm has a 50 day moving average price of $60.99 and a 200-day moving average price of $64.70. BRP Inc. has a fifty-two week low of $48.83 and a fifty-two week high of $81.89. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30.

BRP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. BRP’s payout ratio is presently 26.42%.

About BRP

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.