Brookfield Business Partners L.P. (NYSE:BBU) Sees Significant Growth in Short Interest

Brookfield Business Partners L.P. (NYSE:BBU) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 40,800 shares, a growth of 123.0% from the September 15th total of 18,300 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 49,600 shares, the days-to-cover ratio is presently 0.8 days. Based on an average trading volume of 49,600 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Brookfield Business Partners by 30,100.0% during the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock worth $31,000 after buying an additional 1,204 shares during the last quarter. Rathbones Group PLC bought a new position in Brookfield Business Partners during the 2nd quarter worth $265,000. Northwest & Ethical Investments L.P. bought a new position in Brookfield Business Partners during the 2nd quarter worth $391,000. Bank of New York Mellon Corp grew its stake in Brookfield Business Partners by 11.7% during the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider’s stock worth $465,000 after buying an additional 2,078 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Brookfield Business Partners by 636.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider’s stock worth $934,000 after buying an additional 31,135 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Partners Price Performance

Shares of BBU opened at $34.49 on Wednesday. The company has a market cap of $3.06 billion, a P/E ratio of -265.27 and a beta of 1.38. The stock has a fifty day moving average price of $29.75 and a 200 day moving average price of $26.07. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.67 and a quick ratio of 1.36. Brookfield Business Partners has a 12 month low of $18.63 and a 12 month high of $36.72.

Brookfield Business Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 29th. Brookfield Business Partners’s dividend payout ratio is presently -192.31%.

Wall Street Analyst Weigh In

BBU has been the subject of a number of research analyst reports. Desjardins raised their price target on Brookfield Business Partners from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. National Bankshares raised their price target on Brookfield Business Partners from $33.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Wall Street Zen cut Brookfield Business Partners from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Scotiabank set a $39.00 price target on Brookfield Business Partners and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Finally, Zacks Research downgraded Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 30th. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.83.

Brookfield Business Partners Company Profile

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.