Brookfield Asset Management Inc (NYSE:BAM) has tumbled 4.59% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.62% in the last four weeks. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.44%. Brookfield Asset Management Inc (NYSE:BAM) has underperformed the index by 0.3% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Brookfield Asset Management Inc (NYSE:BAM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $33.02 and $33.02 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.59. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.10, notching a gain of 3.02% for the day. The total traded volume was 3,823,550 . The stock had closed at $33.10 on the previous day.
The company shares have dropped -5.04% from its 1 Year high price. On Jun 26, 2015, the shares registered one year high at $36.81 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $34.37 and the 200 Day Moving Average price is recorded at $32.31.
Many analysts have stated their opinion on the company shares. Keefe Bruyette & Woods initiates coverage on Brookfield Asset Management Inc (NYSE:BAM).The analysts at the brokerage house have a current rating of Outperform on the shares. In a recent information released to the investors, Keefe Bruyette & Woods announces the price target of $41 per share. The rating by the firm was issued on May 24, 2016. Institutional Investors own 53.34% of Brookfield Asset Management Inc shares.
Brookfield Asset Management Inc. (Brookfield) is a global alternative asset manager. The Company owns and operates assets with a focus on property, renewable energy, infrastructure and private equity. The Company operates in eight segments: Asset Management, property, renewable energy, infrastructure, private equity, residential development, service activities and corporate activities. Brookfield manages a range of investment funds and other entities that enable institutional and retail clients to invest in these assets. These products include publicly listed partnerships that are listed on stock exchanges, as well as private institutional partnerships that are available to accredited investors, typically pension funds, endowments and other institutional investors. The Company also manages portfolios of listed securities through a series of segregated accounts and mutual funds.