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

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) saw a significant decrease in short interest in the month of 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. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 14,100 shares, the days-to-cover ratio is currently 3.4 days.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated an "outperform" rating and issued a $32.00 price objective on shares of Brookfield Business Partners in a research note 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's stock. According to data from MarketBeat.com, Brookfield Business Partners currently has an average rating of "Buy" and a consensus target price of $31.40.

Brookfield Business Partners Stock Performance

NYSE:BBU traded up $0.22 during mid-day trading on Friday, hitting $22.49. 4,118 shares of the company traded hands, compared to its average volume of 14,044. The stock's fifty day moving average price is $22.13 and its 200-day moving average price is $20.27. 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 has a one year low of $13.00 and a one year high of $24.96. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 3.45 and a beta of 1.45.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.95). Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. The company had revenue of $11.95 billion for the quarter. During the same period in the previous year, the business posted $0.85 EPS. Research analysts anticipate that Brookfield Business Partners will post 4.52 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Business Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Intact Investment Management Inc. purchased a new stake in Brookfield Business Partners in the 3rd quarter worth $45,000. Bank of New York Mellon Corp bought a new position in shares of Brookfield Business Partners in the second quarter worth about $307,000. Gold Investment Management Ltd. grew its position in shares of 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 in the last quarter. The Manufacturers Life Insurance Company raised its stake in Brookfield Business Partners by 1.5% during 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 period. Finally, AYAL Capital Advisors Ltd lifted its holdings in Brookfield Business Partners by 97.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider's stock worth $848,000 after purchasing an additional 22,200 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors.

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.