Brookfield Business Partners L.P. (NYSE:BBU) Short Interest Up 123.0% in September

Key Points

• Brookfield Business Partners L.P. (NYSE:BBU) reported a substantial increase in short interest, rising 123.0% in September, reaching a total of 40,800 shares.
• Institutional investors have significantly increased their holdings, with 85.04% of the stock now owned by hedge funds and other institutions.
• Several analysts have released mixed ratings on the stock, with a consensus price target of $35.83 and five analysts giving it a "Buy" rating.

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) saw a large 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. Based on an average daily volume of 49,600 shares, the short-interest ratio is currently 0.8 days. Approximately 0.1% of the company's shares are short sold. Approximately 0.1% of the company's shares are short sold. Based on an average daily volume of 49,600 shares, the short-interest ratio is currently 0.8 days.

Institutional Trading of Brookfield Business Partners

A number of hedge funds and other institutional investors have recently modified their holdings of BBU. Gold Investment Management Ltd. grew its position in shares of Brookfield Business Partners by 20.9% in the 1st quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider's stock worth $921,000 after buying an additional 6,791 shares during the period. Bank of New York Mellon Corp grew its position in shares of Brookfield Business Partners by 11.7% in 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 period. Triasima Portfolio Management inc. purchased a new stake in shares of Brookfield Business Partners in the 1st quarter worth about $3,997,000. TD Asset Management Inc grew its position in shares of Brookfield Business Partners by 2.7% in the 1st quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider's stock worth $3,625,000 after buying an additional 4,032 shares during the period. Finally, AGF Management Ltd. grew its position in shares of Brookfield Business Partners by 58.2% in the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider's stock worth $8,030,000 after buying an additional 126,189 shares during the period. 85.04% of the stock is owned by hedge funds and other institutional investors.

Brookfield Business Partners Trading Up 2.2%

NYSE BBU traded up $0.78 during trading on Monday, hitting $35.34. The company had a trading volume of 65,407 shares, compared to its average volume of 115,321. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90. Brookfield Business Partners has a one year low of $18.63 and a one year high of $36.72. The company has a market cap of $3.14 billion, a price-to-earnings ratio of -271.81 and a beta of 1.38. The company's fifty day moving average is $29.55 and its 200-day moving average is $26.01.

Brookfield Business Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a $0.0625 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield Business Partners's dividend payout ratio is currently -192.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BBU. Scotiabank set a $39.00 price objective on shares of Brookfield Business Partners and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Zacks Research cut shares of Brookfield Business Partners from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Brookfield Business Partners in a research note on Wednesday, October 8th. Desjardins upped their price target on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada upped their price target on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the company an "outperform" rating in a report on Monday, September 29th. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company 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.

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