Short Interest in Brookfield Business Partners L.P. (NYSE:BBU) Declines By 32.2%

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 51,500 shares, a decline of 32.2% from the November 15th total of 76,000 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 14,600 shares, the short-interest ratio is presently 3.5 days.

Hedge Funds Weigh In On Brookfield Business Partners

Several hedge funds have recently bought and sold shares of the company. Intact Investment Management Inc. purchased a new stake in Brookfield Business Partners in the 3rd quarter worth approximately $45,000. Bank of New York Mellon Corp bought a new position in shares of Brookfield Business Partners in the second quarter worth $307,000. Gold Investment Management Ltd. raised its position in shares of Brookfield Business Partners by 7.4% in the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider's stock worth $739,000 after buying an additional 2,169 shares in the last quarter. Tandem Capital Management Corp ADV boosted its stake in Brookfield Business Partners by 24.5% during the third quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider's stock valued at $890,000 after buying an additional 7,939 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Brookfield Business Partners by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider's stock worth $770,000 after buying an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 85.04% of the company's stock.

Brookfield Business Partners Stock Performance

Shares of NYSE:BBU traded down $0.61 during trading on Friday, hitting $23.68. 30,585 shares of the company were exchanged, compared to its average volume of 14,680. Brookfield Business Partners has a 52-week low of $16.85 and a 52-week high of $26.75. The stock has a 50 day moving average of $24.09 and a 200 day moving average of $21.45. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95. The company has a market cap of $1.76 billion, a PE ratio of 2.92 and a beta of 1.48.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.39. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. The business had revenue of $9.23 billion for the quarter. During the same period last year, the company posted $1.33 EPS. As a group, equities research analysts predict that Brookfield Business Partners will post 5.43 EPS for the current year.

Brookfield Business Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.063 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Brookfield Business Partners's previous quarterly dividend of $0.06. The ex-dividend date is Friday, November 29th. Brookfield Business Partners's dividend payout ratio is presently 3.09%.

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.