Brookfield Business Partners L.P. (NYSE:BBU) Sees Large Drop in Short Interest

Brookfield Business Partners L.P. (NYSE:BBU) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 43,100 shares, a drop of 16.3% from the November 30th total of 51,500 shares. Based on an average trading volume of 15,600 shares, the days-to-cover ratio is currently 2.8 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Brookfield Business Partners

Hedge funds have recently bought and sold shares of the stock. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Business Partners in the 3rd quarter valued at approximately $45,000. Bank of New York Mellon Corp purchased a new position in Brookfield Business Partners in the second quarter valued at $307,000. Gold Investment Management Ltd. increased its holdings in 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 valued at $739,000 after buying an additional 2,169 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings 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 worth $770,000 after buying an additional 608 shares during the last quarter. Finally, AYAL Capital Advisors Ltd boosted 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 acquiring an additional 22,200 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Stock Down 1.4 %

Shares of NYSE BBU traded down $0.32 during midday trading on Friday, hitting $22.45. The company’s stock had a trading volume of 14,684 shares, compared to its average volume of 14,708. 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 firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 2.77 and a beta of 1.48. The business’s fifty day simple moving average is $23.92 and its two-hundred day simple moving average is $21.79. Brookfield Business Partners has a 1 year low of $16.85 and a 1 year high of $26.75.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.00 by $0.39. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. The company had revenue of $9.23 billion during the quarter. During the same period in the prior year, the business earned $1.33 EPS. On average, equities analysts predict that Brookfield Business Partners will post 5.43 EPS for the current year.

Brookfield Business Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a yield of 1.12%. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, November 29th. Brookfield Business Partners’s 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.