A company insider recently sold 970,000 shares of Brookfield Asset Management Ltd. [BAM]. Should You Sale?


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Brookfield Asset Management Ltd. shares valued at $23,794,100 were sold by BROOKFIELD ASSET MANAGEMENT IN on Dec 01. At $24.53 per share, BROOKFIELD ASSET MANAGEMENT IN sold 970,000 shares. The insider’s holdings dropped to 12,311,712 shares worth approximately $384.49 million following the completion of this transaction.

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Also, BROOKFIELD ASSET MANAGEMENT IN sold 970,000 shares, netting a total of over 23,794,100 in proceeds. Following the sale of shares at $24.53 each, the insider now holds 12,311,712 shares.

Before that, BROOKFIELD ASSET MANAGEMENT IN had sold 2,135,176 shares from its account. In a trade valued at $51,436,390, the traded Brookfield Asset Management Ltd. shares for $24.09 each. Upon closing the transaction, the insider’s holdings decreased to 2,135,176 shares, worth approximately $414.79 million.

As published in their initiating research note from RBC Capital Mkts on December 22, 2022, Brookfield Asset Management Ltd. [BAM] has been an Outperform and the price target has been revised to $35. This represents a 10.77% premium over Thursday’s closing price. Analysts at CIBC started covering the stock with ‘”a Sector outperform”‘ outlook in a report released in mid December. As of April 27, 2022, Credit Suisse has increased its “Neutral” rating to a “an Outperform” for BAM. Earlier on January 26, 2022, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for BAM stock which previously was a “a Buy”.

Analyzing BAM Stock Performance

On Thursday, Brookfield Asset Management Ltd. [NYSE: BAM] rose 1.30% to $31.23. The stock’s lowest price that day was $30.24, but it reached a high of $31.25 in the same session. During the last five days, there has been a drop of approximately -4.84%. Over the course of the year, Brookfield Asset Management Ltd. shares have jumped approximately 8.93%. Nevertheless, trading volume fell to 1.7 million shares from 1.75 million shares the previous day.

Support And Resistance Levels for Brookfield Asset Management Ltd. (BAM)

According to the 24-hour chart, there is a support level at 30.56, which, if violated, would cause prices to drop to 29.90. In the upper region, resistance lies at 31.57. The next price resistance is at 31.92. RSI (Relative Strength Index) is 36.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.59, which suggests the price will decrease in the coming days. Percent R is at 75.76%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Brookfield Asset Management Ltd. subject to short interest?

Stocks of Brookfield Asset Management Ltd. saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.68 million shares to 3.39 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.71 million shares. A jump of 20.06% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.57 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.57.

Which companies own the most shares of Brookfield Asset Management Ltd. (BAM)?

In terms of Brookfield Asset Management Ltd. share price expectations, FactSet research, analysts set an average price target of $36.88 in the next 12 months, up nearly 28.12% from the previous closing price of $30.83. Analysts anticipate Brookfield Asset Management Ltd. stock to reach $47.00 by 2023, with the lowest price target being $21.00. In spite of this, 8 analysts ranked Brookfield Asset Management Ltd. stock as an Overweight at the end of 2023. On August 12, 2021, Citigroup assigned a price target of “a Buy” to the stock and resumed coverage with a $68.


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