Steel Partners Holdings L.P. (NYSE:SPLP) Sees Large Increase in Short Interest

Steel Partners Holdings L.P. (NYSE:SPLPGet Rating) saw a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 9,600 shares, a growth of 47.7% from the April 15th total of 6,500 shares. Based on an average daily volume of 12,700 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.2% of the company’s stock are sold short.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Steel Partners Holdings L.P. increased its holdings in shares of Steel Partners by 4.4% in the 1st quarter. Steel Partners Holdings L.P. now owns 6,405,468 shares of the conglomerate’s stock valued at $266,211,000 after acquiring an additional 268,623 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Steel Partners in the 3rd quarter valued at approximately $3,387,000. Teton Advisors Inc. grew its stake in Steel Partners by 1.3% during the 4th quarter. Teton Advisors Inc. now owns 94,182 shares of the conglomerate’s stock worth $3,956,000 after buying an additional 1,211 shares during the last quarter. HighTower Advisors LLC grew its stake in Steel Partners by 3.1% during the 1st quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate’s stock worth $792,000 after buying an additional 573 shares during the last quarter. Finally, Smith Moore & CO. grew its stake in Steel Partners by 77.2% during the 4th quarter. Smith Moore & CO. now owns 18,611 shares of the conglomerate’s stock worth $782,000 after buying an additional 8,111 shares during the last quarter. Institutional investors and hedge funds own 91.57% of the company’s stock.

Shares of NYSE SPLP opened at $42.26 on Friday. Steel Partners has a twelve month low of $20.02 and a twelve month high of $44.56. The company has a current ratio of 1.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $875.63 million, a price-to-earnings ratio of 12.43 and a beta of 1.70. The business has a 50 day simple moving average of $41.96 and a 200-day simple moving average of $38.70.

Steel Partners (NYSE:SPLPGet Rating) last issued its quarterly earnings results on Thursday, March 10th. The conglomerate reported $1.25 earnings per share for the quarter. Steel Partners had a return on equity of 13.15% and a net margin of 5.14%. The business had revenue of $431.86 million during the quarter.

Several research firms have issued reports on SPLP. TheStreet upgraded Steel Partners from a “c” rating to a “b-” rating in a report on Wednesday, February 2nd. StockNews.com downgraded Steel Partners from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Steel Partners Company Profile (Get Rating)

Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.

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