Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in BRP Inc. (NASDAQ:DOOO)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in BRP Inc. (NASDAQ:DOOO) by 70.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,276 shares of the company’s stock after selling 284,702 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of BRP worth $6,169,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. US Bancorp DE lifted its stake in shares of 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 buying an additional 322 shares during the period. CIBC Asset Management Inc raised its holdings in BRP by 154.5% in the 3rd quarter. CIBC Asset Management Inc now owns 116,659 shares of the company’s stock valued at $7,347,000 after acquiring an additional 70,819 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of BRP by 706.1% during the 3rd quarter. Intech Investment Management LLC now owns 26,318 shares of the company’s stock worth $1,568,000 after purchasing an additional 23,053 shares during the period. DRW Securities LLC acquired a new stake in shares of BRP during the third quarter worth $161,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of BRP by 13.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company’s stock valued at $73,027,000 after purchasing an additional 150,039 shares during the period.

BRP Price Performance

DOOO stock opened at $38.51 on Friday. The company has a market cap of $2.81 billion, a PE ratio of 20.48 and a beta of 2.03. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The stock has a 50-day moving average price of $45.53 and a two-hundred day moving average price of $51.58. BRP Inc. has a 12-month low of $36.63 and a 12-month high of $75.59.

Analysts Set New Price Targets

Separately, Citigroup downgraded BRP from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $97.00.

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.