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

Brookfield Business Partners L.P. (NYSE:BBU) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 57,100 shares, a growth of 40.0% from the September 30th total of 40,800 shares. Based on an average daily volume of 57,700 shares, the short-interest ratio is presently 1.0 days. Currently, 0.1% of the company’s shares are sold short. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 57,700 shares, the short-interest ratio is presently 1.0 days.

Analyst Ratings Changes

BBU has been the topic of a number of analyst reports. Desjardins lifted their target price on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Zacks Research downgraded shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 30th. Royal Bank Of Canada boosted their price target on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Scotiabank set a $39.00 price target on shares of Brookfield Business Partners and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Brookfield Business Partners presently has a consensus rating of “Hold” and a consensus price target of $35.83.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in shares of Brookfield Business Partners by 30,100.0% in the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock valued at $31,000 after buying an additional 1,204 shares in the last quarter. Rathbones Group PLC purchased a new stake in Brookfield Business Partners in the 2nd quarter valued at $265,000. Northwest & Ethical Investments L.P. purchased a new stake in Brookfield Business Partners in the 2nd quarter valued at $391,000. Bank of New York Mellon Corp raised its position in Brookfield Business Partners by 11.7% in the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider’s stock valued at $465,000 after purchasing an additional 2,078 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Brookfield Business Partners by 636.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider’s stock valued at $934,000 after purchasing an additional 31,135 shares during the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Stock Down 1.1%

NYSE BBU traded down $0.36 on Tuesday, hitting $34.26. 11,993 shares of the stock were exchanged, compared to its average volume of 31,314. The company has a quick ratio of 1.36, a current ratio of 1.67 and a debt-to-equity ratio of 2.90. Brookfield Business Partners has a fifty-two week low of $18.63 and a fifty-two week high of $36.72. The company has a market cap of $3.04 billion, a PE ratio of -263.51 and a beta of 1.39. The company has a 50-day moving average price of $31.27 and a 200-day moving average price of $27.06.

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.