Spartan Fund Management Inc. Takes Position in BRP Inc. (NASDAQ:DOOO)

Spartan Fund Management Inc. bought a new position in BRP Inc. (NASDAQ:DOOO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,211 shares of the company’s stock, valued at approximately $72,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Addenda Capital Inc. boosted its position in shares of BRP by 5.3% in the 1st quarter. Addenda Capital Inc. now owns 10,583 shares of the company’s stock valued at $710,000 after purchasing an additional 528 shares during the period. Trivant Custom Portfolio Group LLC acquired a new position in shares of BRP in the first quarter worth about $50,000. BNP Paribas Financial Markets increased its position in shares of BRP by 753.8% in the first quarter. BNP Paribas Financial Markets now owns 6,002 shares of the company’s stock worth $403,000 after acquiring an additional 5,299 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of BRP during the first quarter valued at approximately $3,178,000. Finally, Sei Investments Co. purchased a new stake in shares of BRP in the 1st quarter valued at approximately $5,376,000.

BRP Price Performance

NASDAQ DOOO traded down $3.27 on Tuesday, hitting $52.48. 214,830 shares of the company were exchanged, compared to its average volume of 123,547. BRP Inc. has a 1-year low of $52.26 and a 1-year high of $77.12. The firm has a 50 day moving average of $63.08 and a two-hundred day moving average of $65.74. The company has a current ratio of 1.32, a quick ratio of 0.37 and a debt-to-equity ratio of 4.99. The company has a market cap of $3.89 billion, a P/E ratio of 9.48 and a beta of 2.06.

BRP (NASDAQ:DOOO) last issued its quarterly earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.22 by $0.23. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. BRP had a net margin of 2.78% and a return on equity of 79.58%. On average, equities analysts predict that BRP Inc. will post 2.21 EPS for the current year.

BRP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Friday, September 27th. BRP’s dividend payout ratio is currently 11.21%.

Analyst Ratings Changes

DOOO has been the subject of a number of research analyst reports. Cibc World Mkts lowered BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. National Bank Financial cut BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Citigroup reduced their price target on shares of BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $97.00.

BRP Company 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.