BRP Inc. (NASDAQ:DOOO) Short Interest Up 10.8% in December

BRP Inc. (NASDAQ:DOOO) was the recipient of 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. Currently, 9.7% of the company’s shares are short sold. Based on an average daily volume of 145,700 shares, the short-interest ratio is presently 14.1 days.

BRP Trading Down 3.0 %

DOOO traded down $1.59 on Monday, reaching $51.99. 80,146 shares of the company traded hands, compared to its average volume of 101,938. 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 cap of $3.80 billion, a P/E ratio of 27.65 and a beta of 2.02. The firm has a fifty day simple moving average of $50.40 and a two-hundred day simple moving average of $58.34. BRP has a one year low of $46.85 and a one year high of $75.59.

BRP Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.1485 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.14%. BRP’s dividend payout ratio is presently 30.85%.

Institutional Investors Weigh In On BRP

A number of hedge funds have recently made changes to their positions in DOOO. US Bancorp DE lifted its position in BRP by 350.0% during the third quarter. US Bancorp DE now owns 414 shares of the company’s stock valued at $25,000 after acquiring an additional 322 shares during the last quarter. Spartan Fund Management Inc. purchased a new stake in BRP in the third quarter valued at about $72,000. DRW Securities LLC purchased a new stake in BRP in the third quarter valued at about $161,000. Public Employees Retirement System of Ohio acquired a new stake in BRP in the third quarter worth about $178,000. Finally, Intech Investment Management LLC purchased a new stake in shares of BRP during the second quarter worth about $209,000.

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.