Brookfield Business Partners L.P. (NYSE:BBU) Short Interest Up 21.6% in May

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 9,000 shares, a growth of 21.6% from the April 30th total of 7,400 shares. Based on an average daily trading volume, of 19,200 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Brookfield Business Partners

Several institutional investors have recently added to or reduced their stakes in BBU. Intact Investment Management Inc. grew its holdings in Brookfield Business Partners by 52.6% during the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider's stock valued at $68,000 after buying an additional 1,000 shares in the last quarter. BBR Partners LLC purchased a new position in Brookfield Business Partners during the 4th quarter valued at approximately $241,000. Bank of New York Mellon Corp grew its holdings in Brookfield Business Partners by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider's stock valued at $415,000 after buying an additional 1,448 shares in the last quarter. Gold Investment Management Ltd. boosted its holdings in shares of Brookfield Business Partners by 3.2% in the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider's stock worth $767,000 after purchasing an additional 1,017 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of 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 purchasing an additional 1,146 shares during the period. Hedge funds and other institutional investors own 85.04% of the company's stock.

Brookfield Business Partners Price Performance

BBU traded down $0.12 on Thursday, hitting $25.23. 4,994 shares of the company's stock traded hands, compared to its average volume of 16,727. The company's 50 day simple moving average is $22.70 and its 200-day simple moving average is $23.24. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -51.48 and a beta of 1.28. Brookfield Business Partners has a one year low of $16.85 and a one year high of $26.75. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 2.12.

Brookfield Business Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, May 30th. Brookfield Business Partners's dividend payout ratio is presently -73.53%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BBU. Scotiabank decreased their price objective on Brookfield Business Partners from $33.00 to $29.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. CIBC decreased their price objective on Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating on the stock in a research note on Monday, April 28th. Finally, National Bankshares decreased their target price on Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $31.00.

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.