Brookfield Business Partners L.P. (NYSE:BBU) Short Interest Up 56.3% in August

Key Points

• Short interest in Brookfield Business Partners L.P. increased by 56.3% in August, reaching a total of 15,000 shares, which indicates growing investor pessimism about the stock.
• The company has announced a quarterly dividend of $0.0625 per share, scheduled for payment on September 29th, with a yield of 0.9%.
• Several hedge funds significantly increased their stakes in Brookfield Business Partners recently, with JPMorgan Chase raising its position by an impressive 636.4% during the second quarter.

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 15,000 shares, a growth of 56.3% from the August 15th total of 9,600 shares. Based on an average daily trading volume, of 23,700 shares, the short-interest ratio is currently 0.6 days. Approximately 0.0% of the company's shares are sold short. Approximately 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 23,700 shares, the short-interest ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BBU shares. Royal Bank Of Canada upped their price target on Brookfield Business Partners from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Scotiabank reduced their price target on 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. Desjardins upped 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. Finally, Wall Street Zen lowered Brookfield Business Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $32.50.

Hedge Funds Weigh In On Brookfield Business Partners

Several institutional investors have recently modified their holdings of BBU. BROOKFIELD Corp ON grew its holdings in Brookfield Business Partners by 72.5% during the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider's stock valued at $1,035,806,000 after purchasing an additional 18,549,503 shares during the period. Royal Bank of Canada grew its holdings in Brookfield Business Partners by 0.8% during the fourth quarter. Royal Bank of Canada now owns 7,718,131 shares of the business services provider's stock valued at $180,759,000 after purchasing an additional 64,007 shares during the period. TD Waterhouse Canada Inc. grew its holdings in Brookfield Business Partners by 1.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider's stock valued at $28,344,000 after purchasing an additional 14,981 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Brookfield Business Partners by 2.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 791,887 shares of the business services provider's stock valued at $18,651,000 after purchasing an additional 17,912 shares during the period. Finally, AGF Management Ltd. grew its holdings in Brookfield Business Partners by 58.2% during the first quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider's stock valued at $8,030,000 after purchasing an additional 126,189 shares during the period. 85.04% of the stock is owned by institutional investors.

Brookfield Business Partners Stock Performance

Shares of BBU stock traded down $0.09 during trading on Friday, hitting $27.59. The company's stock had a trading volume of 12,510 shares, compared to its average volume of 34,954. The company has a market cap of $2.45 billion, a PE ratio of -212.19 and a beta of 1.34. 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 business has a fifty day moving average of $26.22 and a 200-day moving average of $24.54. Brookfield Business Partners has a 52 week low of $18.63 and a 52 week high of $28.28.

Brookfield Business Partners Announces Dividend

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