Brookfield Business Corp (NYSE:BBUC) Sees Significant Growth in Short Interest

Brookfield Business Corp (NYSE:BBUC) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 2,139,332 shares, a growth of 160.1% from the June 15th total of 822,471 shares. Based on an average trading volume of 1,135,344 shares, the short-interest ratio is presently 1.9 days. Approximately 1.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On Brookfield Business

A number of large investors have recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in shares of Brookfield Business by 29.4% during the fourth quarter. Signaturefd LLC now owns 3,018 shares of the company’s stock worth $108,000 after purchasing an additional 685 shares during the period. SG Americas Securities LLC acquired a new position in Brookfield Business in the 4th quarter valued at approximately $178,000. Jump Financial LLC acquired a new position in Brookfield Business in the 4th quarter valued at approximately $240,000. Franklin Resources Inc. lifted its position in Brookfield Business by 7.1% in the 4th quarter. Franklin Resources Inc. now owns 7,302 shares of the company’s stock worth $262,000 after buying an additional 482 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Brookfield Business in the 4th quarter worth approximately $280,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

Wall Street Analyst Weigh In

BBUC has been the topic of a number of recent research reports. National Bank Financial decreased their target price on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Zacks Research raised Brookfield Business from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings lowered Brookfield Business from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 8th. Royal Bank Of Canada dropped their price target on Brookfield Business from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Finally, Canadian Imperial Bank of Commerce set a $41.50 price objective on Brookfield Business in a report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.90.

Brookfield Business Stock Up 2.5%

Shares of BBUC traded up $0.77 during mid-day trading on Wednesday, reaching $31.22. The company’s stock had a trading volume of 199,332 shares, compared to its average volume of 288,227. The company has a market cap of $6.46 billion, a price-to-earnings ratio of -69.38 and a beta of 1.25. The business has a fifty day moving average of $32.18 and a 200 day moving average of $33.62. The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 2.78. Brookfield Business has a 1 year low of $28.29 and a 1 year high of $38.25.

Brookfield Business (NYSE:BBUC) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($1.12). The business had revenue of $6.44 billion for the quarter. Brookfield Business had a net margin of 1.28% and a return on equity of 2.33%. As a group, analysts forecast that Brookfield Business will post 5.54 earnings per share for the current fiscal year.

Brookfield Business Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were given a dividend of $0.0625 per share. The ex-dividend date was Friday, May 29th. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. Brookfield Business’s dividend payout ratio (DPR) is presently -55.56%.

Brookfield Business Company Profile

Brookfield Business (NYSE: BBUC) is a publicly traded operating company affiliated with the Brookfield group that focuses on owning and managing a portfolio of industrial and business services companies. The company’s model centers on acquiring established businesses and applying active operational oversight, capital investment and strategic management to improve performance and support long‑term growth.

Brookfield Business’s activities span a range of sectors within the industrial and services landscape, including manufacturing, industrial services, specialty distribution and business‑to‑business service providers.