Gold Investment Management Ltd. Raises Stake in Brookfield Business Partners L.P. (NYSE:BBU)

Gold Investment Management Ltd. increased its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 7.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,501 shares of the business services provider’s stock after buying an additional 2,169 shares during the period. Gold Investment Management Ltd.’s holdings in Brookfield Business Partners were worth $739,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in Brookfield Business Partners by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after buying an additional 608 shares during the period. Principal Financial Group Inc. increased its stake in shares of Brookfield Business Partners by 2.0% in the second quarter. Principal Financial Group Inc. now owns 90,242 shares of the business services provider’s stock worth $1,701,000 after buying an additional 1,808 shares during the period. Intact Investment Management Inc. bought a new stake in Brookfield Business Partners during the 3rd quarter valued at $45,000. Tandem Capital Management Corp ADV boosted its position in Brookfield Business Partners by 24.5% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock valued at $890,000 after buying an additional 7,939 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Brookfield Business Partners in the 2nd quarter worth $307,000. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Stock Up 4.6 %

Shares of NYSE:BBU traded up $1.12 during trading on Friday, reaching $25.64. 10,047 shares of the stock traded hands, compared to its average volume of 13,957. Brookfield Business Partners L.P. has a 52-week low of $14.43 and a 52-week high of $25.64. The stock has a market cap of $1.90 billion, a P/E ratio of 3.77 and a beta of 1.45. The stock has a 50-day moving average of $22.38 and a two-hundred day moving average of $20.41. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.74 and a current ratio of 1.00.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 target price on shares of Brookfield Business Partners in a report on Monday, August 5th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Business Partners presently has a consensus rating of “Buy” and a consensus price target of $31.40.

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.