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 in July. As of July 31st, there was short interest totaling 11,300 shares, agrowthof41.3% from the July 15th total of 8,000 shares. Approximately0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 22,300 shares, the short-interest ratio is presently 0.5 days. Based on an average daily trading volume, of 22,300 shares, the short-interest ratio is presently 0.5 days. Approximately0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BBU shares. Royal Bank Of Canada lifted their target price on Brookfield Business Partners from $33.00 to $35.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Scotiabank dropped their target price 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. Wall Street Zen lowered shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Desjardins increased their target price on Brookfield Business Partners from $31.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, CIBC lowered their price target on Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating on the stock in a report on Monday, April 28th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $32.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in Brookfield Business Partners by 2.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider's stock worth $987,000 after acquiring an additional 1,146 shares during the period. Bank of America Corp DE grew its position in shares of Brookfield Business Partners by 30,100.0% in the second 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 last quarter. Bank of New York Mellon Corp increased its stake in shares of Brookfield Business Partners by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock worth $465,000 after purchasing an additional 2,078 shares during the period. Gold Investment Management Ltd. lifted its position in shares of Brookfield Business Partners by 6.8% during the 2nd quarter. Gold Investment Management Ltd. now owns 41,994 shares of the business services provider's stock worth $1,092,000 after purchasing an additional 2,685 shares during the last quarter. Finally, K2 Principal Fund L.P. boosted its stake in Brookfield Business Partners by 5.8% during the 4th quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider's stock valued at $1,227,000 after purchasing an additional 2,880 shares during the period. Institutional investors and hedge funds own 85.04% of the company's stock.

Brookfield Business Partners Stock Up 2.6%

Shares of Brookfield Business Partners stock traded up $0.7160 during trading on Friday, hitting $27.7760. 114,676 shares of the stock traded hands, compared to its average volume of 25,472. The stock has a market cap of $2.47 billion, a P/E ratio of -213.66 and a beta of 1.38. The company has a fifty day moving average price of $25.61 and a two-hundred day moving average price of $24.12. Brookfield Business Partners has a twelve month low of $18.63 and a twelve month high of $28.23. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.36 and a current ratio of 1.67.

Brookfield Business Partners Dividend Announcement

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

About Brookfield Business Partners

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.