Brookfield Business Partners L.P. (NYSE:BBU – Get Rating) was the target of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 104,100 shares, a decrease of 16.5% from the May 31st total of 124,600 shares. Based on an average trading volume of 39,300 shares, the short-interest ratio is currently 2.6 days. Currently, 0.1% of the shares of the company are short sold.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Brookfield Business Partners by 365.7% during the 1st quarter. Bank of America Corp DE now owns 8,163 shares of the business services provider's stock worth $250,000 after purchasing an additional 6,410 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Brookfield Business Partners by 2.5% during the 1st quarter. 1832 Asset Management L.P. now owns 1,337,835 shares of the business services provider's stock worth $40,399,000 after purchasing an additional 33,160 shares in the last quarter. UBS Group AG grew its holdings in shares of Brookfield Business Partners by 31.5% during the 1st quarter. UBS Group AG now owns 6,133 shares of the business services provider's stock worth $189,000 after purchasing an additional 1,468 shares in the last quarter. Cibc World Market Inc. boosted its stake in Brookfield Business Partners by 0.4% in the first quarter. Cibc World Market Inc. now owns 459,689 shares of the business services provider's stock valued at $14,122,000 after buying an additional 1,694 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its stake in Brookfield Business Partners by 39.7% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 154,930 shares of the business services provider's stock valued at $4,811,000 after buying an additional 44,000 shares in the last quarter. 74.20% of the stock is currently owned by institutional investors.
Get Brookfield Business Partners alerts:BBU stock opened at $20.06 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.80. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -182.30 and a beta of 1.52. The business's fifty day moving average price is $22.88 and its two-hundred day moving average price is $33.16. Brookfield Business Partners has a fifty-two week low of $19.81 and a fifty-two week high of $51.98.
Brookfield Business Partners (NYSE:BBU – Get Rating) last posted its quarterly earnings data on Friday, May 6th. The business services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($1.31). The firm had revenue of $13.47 billion for the quarter. Brookfield Business Partners had a return on equity of 1.59% and a net margin of 0.38%. During the same quarter last year, the firm earned $3.67 EPS. Research analysts expect that Brookfield Business Partners will post 6.03 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Tuesday, May 31st were issued a dividend of $0.063 per share. This is a positive change from Brookfield Business Partners's previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Friday, May 27th. Brookfield Business Partners's dividend payout ratio is -227.25%.
A number of equities research analysts recently weighed in on the company. TheStreet cut Brookfield Business Partners from a "c-" rating to a "d+" rating in a research note on Friday, July 1st. National Bank Financial lowered their price objective on Brookfield Business Partners from $68.00 to $39.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 16th. Finally, National Bankshares lowered their price objective on Brookfield Business Partners from $39.00 to $37.00 and set an "outperform" rating on the stock in a research report on Monday, May 9th.
About Brookfield Business Partners (Get Rating)
Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.
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