Brookfield Business Partners L.P. (NYSE:BBU – Get Free Report) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 47,300 shares, a decline 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 presently 3.4 days.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Brookfield Business Partners by 12.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock worth $12,910,000 after acquiring an additional 77,017 shares in the last quarter. K2 Principal Fund L.P. raised its stake in shares of Brookfield Business Partners by 58.3% in the first quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider’s stock valued at $3,455,000 after purchasing an additional 57,553 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield Business Partners by 29.9% in the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock valued at $2,731,000 after buying an additional 26,947 shares in the last quarter. Bank of Montreal Can raised its position in Brookfield Business Partners by 3.1% in the second quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock worth $15,036,000 after purchasing an additional 22,886 shares in the last quarter. Finally, AYAL Capital Advisors Ltd lifted its position 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 period. 85.04% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $31.40.
Brookfield Business Partners Stock Up 0.8 %
NYSE BBU traded up $0.17 during trading on Friday, reaching $22.43. 4,149 shares of the company’s stock were exchanged, compared to its average volume of 14,044. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $1.67 billion, a PE ratio of 3.45 and a beta of 1.45. The company’s fifty day simple moving average is $22.13 and its 200-day simple moving average is $20.27. Brookfield Business Partners has a fifty-two week low of $13.00 and a fifty-two week high of $24.96.
Brookfield Business Partners (NYSE:BBU – Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.86 by ($0.95). The company had revenue of $11.95 billion for the quarter. Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. During the same quarter in the prior year, the company posted $0.85 EPS. Sell-side analysts predict that Brookfield Business Partners will post 4.52 EPS for the current year.
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.
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