Brookfield Business Partners L.P. (NYSE:BBU) Short Interest Update

Brookfield Business Partners L.P. (NYSE:BBU) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 47,300 shares, a decrease of 8.9% from the September 30th total of 51,900 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 14,100 shares, the days-to-cover ratio is currently 3.4 days.

Brookfield Business Partners Price Performance

Shares of Brookfield Business Partners stock traded up $0.14 during mid-day trading on Friday, reaching $22.40. 2,548 shares of the stock traded hands, compared to its average volume of 14,034. The stock has a market capitalization of $1.66 billion, a PE ratio of 3.45 and a beta of 1.45. The business has a 50-day moving average of $22.13 and a 200 day moving average of $20.27. Brookfield Business Partners has a fifty-two week low of $13.00 and a fifty-two week high of $24.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 2.24.

Brookfield Business Partners (NYSE:BBU) last announced its earnings results on Friday, August 2nd. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.95). The business had revenue of $11.95 billion for the quarter. Brookfield Business Partners had a return on equity of 21.76% and a net margin of 7.34%. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, analysts predict that Brookfield Business Partners will post 4.52 EPS for the current year.

Institutional Trading of Brookfield Business Partners

Large investors have recently bought and sold shares of the business. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Business Partners in the 3rd quarter worth $45,000. Bank of New York Mellon Corp acquired a new stake in Brookfield Business Partners during the second quarter worth about $307,000. Gold Investment Management Ltd. increased its position in Brookfield Business Partners by 7.4% during the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock worth $739,000 after purchasing an additional 2,169 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Brookfield Business Partners by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after purchasing an additional 608 shares during the last quarter. Finally, AYAL Capital Advisors Ltd increased its holdings in shares of Brookfield Business Partners by 97.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock worth $848,000 after buying an additional 22,200 shares during the last quarter. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price objective on shares of Brookfield Business Partners in a report on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Business Partners has an average rating of “Buy” and an average price target of $31.40.

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.