Brookfield Business Partners L.P. (NYSE:BBU) Short Interest Up 41.3% in July

Key Points

• BROOKFIELD BUSINESS PARTNERS saw a staggering 41.3% increase in short interest in July, with a total of 11,300 shares shorted as of July 31st.
• Investment analysts have varying price targets for Brookfield Business Partners, with Desjardins raising their target to $34.00 while CIBC cut theirs to $30.00, reflecting mixed outlooks on the stock.
• The company declared a quarterly dividend of $0.0625 per share, with a payout date of September 29th, showcasing its ongoing commitment to returning value to shareholders despite a negative payout ratio.

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 11,300 shares, agrowthof41.3% from the July 15th total of 8,000 shares. Currently,0.0% of the company's stock are sold short. Based on an average trading volume of 22,300 shares, the days-to-cover ratio is presently 0.5 days. Based on an average trading volume of 22,300 shares, the days-to-cover ratio is presently 0.5 days. Currently,0.0% of the company's stock are sold short.

Institutional Investors Weigh In On Brookfield Business Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Brookfield Business Partners by 30,100.0% in the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider's stock valued at $31,000 after purchasing an additional 1,204 shares during the period. Northwest & Ethical Investments L.P. purchased a new stake in shares of Brookfield Business Partners in the 2nd quarter valued at about $391,000. Legal & General Group Plc purchased a new stake in shares of Brookfield Business Partners in the 2nd quarter valued at about $3,373,000. JPMorgan Chase & Co. raised its holdings in shares of 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 valued at $934,000 after buying an additional 31,135 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Brookfield Business Partners by 1.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider's stock valued at $28,344,000 after buying an additional 14,981 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

Brookfield Business Partners Price Performance

NYSE BBU traded down $0.04 during trading on Monday, hitting $27.68. 22,118 shares of the company's stock were exchanged, compared to its average volume of 26,970. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90. The company has a market cap of $2.46 billion, a PE ratio of -212.92 and a beta of 1.38. Brookfield Business Partners has a fifty-two week low of $18.63 and a fifty-two week high of $28.23. The stock's 50 day moving average price is $25.66 and its two-hundred day moving average price is $24.18.

Brookfield Business Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Business Partners's dividend payout ratio is presently -192.31%.

Analyst Ratings Changes

BBU has been the topic of a number of research reports. Desjardins boosted their target price on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. CIBC decreased their price objective on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating on the stock in a report on Monday, April 28th. Wall Street Zen downgraded shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Royal Bank Of Canada upped their target price on shares of Brookfield Business Partners from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Finally, Scotiabank cut their price target on shares of Brookfield Business Partners from $31.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $32.50.

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.