Short Interest in Brookfield Business Corp (NYSE:BBUC) Grows By 160.1%

Brookfield Business Corp (NYSE:BBUC) saw a large growth in short interest in 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. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,135,344 shares, the days-to-cover ratio is presently 1.9 days.

Analysts Set New Price Targets

BBUC has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce set a $41.50 target price on shares of Brookfield Business in a research note on Monday, May 11th. Scotiabank reiterated an “outperform” rating on shares of Brookfield Business in a research note on Monday, May 11th. Weiss Ratings cut shares of Brookfield Business from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 8th. TD Cowen assumed coverage on shares of Brookfield Business in a research report on Tuesday, June 9th. They issued a “hold” rating and a $34.00 price objective for the company. Finally, National Bank Financial lowered their price objective on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.90.

Institutional Investors Weigh In On Brookfield Business

A number of institutional investors and hedge funds have recently modified their holdings of BBUC. Bank of America Corp DE increased its stake in Brookfield Business by 6.8% in the 3rd quarter. Bank of America Corp DE now owns 52,377 shares of the company’s stock valued at $1,756,000 after purchasing an additional 3,348 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Brookfield Business during the third quarter worth $907,000. SG Americas Securities LLC purchased a new stake in Brookfield Business during the fourth quarter worth $178,000. Signaturefd LLC grew its holdings in Brookfield Business by 29.4% in the fourth quarter. Signaturefd LLC now owns 3,018 shares of the company’s stock valued at $108,000 after purchasing an additional 685 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Brookfield Business in the fourth quarter valued at $431,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Stock Performance

NYSE:BBUC opened at $29.62 on Tuesday. The firm’s fifty day simple moving average is $32.26 and its 200-day simple moving average is $33.66. The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 2.78. The stock has a market cap of $6.13 billion, a PE ratio of -65.83 and a beta of 1.25. Brookfield Business has a fifty-two week low of $28.29 and a fifty-two week high of $38.25.

Brookfield Business (NYSE:BBUC) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $1.31 by ($1.12). The company had revenue of $6.44 billion during the quarter. Brookfield Business had a net margin of 1.28% and a return on equity of 2.33%. Analysts expect that Brookfield Business will post 5.54 earnings per share for the current fiscal year.

Brookfield Business Announces Dividend

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

About Brookfield Business

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.