Cedar Hill Associates Llc increased its stake in Brookfield Asset Mgt (NYSE:BAM) by 53.04% based on its latest 2016Q2 regulatory filing with the SEC. Cedar Hill Associates Llc bought 172,325 shares as the company’s stock rose 16.46% with the market. The hedge fund held 497,222 shares of the building operators company at the end of 2016Q2, valued at $17.30 million, up from 324,897 at the end of the previous reported quarter. Cedar Hill Associates Llc who had been investing in Brookfield Asset Mgt for a number of months, seems to be bullish on the $32.55 billion market cap company. The stock is down 1.95% or $0.65 hitting $32.63, despite the positive news. About 439,534 shares traded hands. Brookfield Asset Management Inc (NYSE:BAM) has risen 22.34% since February 8, 2016 and is uptrending. It has outperformed by 5.85% the S&P500.
Cedar Hill Associates Llc, which manages about $1.20 billion and $575.77M US Long portfolio, decreased its stake in Tech And Tele Spdr (XLK) by 293,818 shares to 6,371 shares, valued at $283,000 in 2016Q2, according to the filing.
Cedar Hill Associates Llc is a Illinois-based hedge fund with more than $1.20 billion AUM in October, 2014. Taken from Cedar Hill Associates latest Adv, the fund reported to have 9 full and part-time employees. Among which 9 performing investment advisory and research functions. The hedge fund had more than 400 clients.
Out of 6 analysts covering Brookfield Asset Management Inc. (NYSE:BAM), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $41 is the highest target while $36 is the lowest. The $39.54 average target is 21.18% above today’s ($32.63) stock price. Brookfield Asset Management Inc. has been the topic of 7 analyst reports since September 30, 2015 according to StockzIntelligence Inc. Keefe Bruyette & Woods initiated the stock on May 24 with “Outperform” rating. IBC upgraded the shares of BAM in a report on October 16 to “Sector Outperform” rating. Lastly, BMO Capital Markets upgraded the stock to “Outperform” rating in a September 30 report.
Brookfield Asset Management Inc. is an alternative asset manager. The company has a market cap of $32.55 billion. The Firm operates in eight divisions. It has a 25.03 P/E ratio. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients.
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