Brookfield Asset Management Ltd (NYSE:BAM) saw a downside of -1.35% to $33.57 after subtracting -$0.46 on Tuesday. The 5-day average trading volume is 1,260,242 shares of the company’s common stock. It has gained $36.14 in the past week and touched a new high 1 time within the past 5 days. An average of 1,018,711 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 964,332.
BAM’s 1-month performance is 1.02% or $0.37 on its low of $33.25 reached on 08/28/23. The company’s shares have touched a 52-week low of $26.76 and high of $36.50. YTD, BAM has achieved 17.09% or $4.93 and has reached a new high 19 times. However, the current price is down -8.03% from the 52-week high price.
Insider Transactions
BAM stock investors last saw insider trading activity on Mar 29.Brookfield Multi-Strategy Mast (Director) most recently sold 50,256 shares at $11.94 per share on Mar 29. This transaction cost the insider $599,805. Director, Brookfield Multi-Strategy Mast, sold 24,744 shares at a price of $11.96 on Mar 28. Then, on Dec 01, BROOKFIELD ASSET MANAGEMENT IN sold 970,000 shares at a price of $24.53 per share. This transaction amounted to $23,794,100.
Valuation Metrics
Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.47 while the price-to-book (PB) in the most recent quarter is 1.50.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.02, while the total debt to equity was 0.02. In terms of profitability, the gross margin trailing 12 months is 95.86%. The firm’s gross profit as reported stood at $3.76 billion against revenue of $3.76 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -14673.68% to $19.0 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected BAM to announce $0.32 per share in earnings in its latest quarter, but it posted $0.32, representing a 0.00% surprise. EBITDA for the quarter stood at more than -$3.0 million. BAM stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 934.0 million, with total debt at $124.0 million.
Let’s look briefly at Brookfield Asset Management Ltd (BAM) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 33.90% to suggest the stock is trending Neutral, with historical volatility in this time period at 24.85%.
The stock’s 5-day moving average is $34.25, reflecting a -5.59% or -$1.99 change from its current price. BAM is currently trading +0.12% above its 20-day SMA, +3.80% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +2.25% and SMA200 by+1.79%.
Stochastic %K and %D was 13.24% and 19.29% and the average true range (ATR) pointed at 0.76. The RSI (14) points at 41.61%, while the 14-day stochastic is at 10.57% with the period’s ATR at 0.76. The stock’s 9-day MACD Oscillator is pointing at -1.04 and -1.07 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Brookfield Asset Management Ltd (NYSE: BAM), BofA Securities launched coverage with a Neutral rating. Analysts offering their rating for BAM stock have a consensus rating for the stock as Overweight. Currently, 2 brokerage advisors rate BAM as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 5 have offered a “buy” rating.
What is BAM’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $21.00 and a high of $48.00, with their median price target at $39.50. Looking at these predictions, the average price target given by analysts is for Brookfield Asset Management Ltd (BAM) stock is $37.70.
