Steel Partners Holdings L.P. (NYSE:SPLP) Short Interest Down 26.9% in March

Steel Partners Holdings L.P. (NYSE:SPLP) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,900 shares, a decline of 26.9% from the March 15th total of 2,600 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 1,500 shares, the short-interest ratio is presently 1.3 days.

Steel Partners Price Performance

Shares of SPLP opened at $33.67 on Friday. The stock has a market cap of $644.72 million, a P/E ratio of 3.45 and a beta of 1.01. Steel Partners has a 1 year low of $27.95 and a 1 year high of $48.45. The stock’s 50-day moving average price is $40.07 and its two-hundred day moving average price is $40.84. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. The firm had revenue of $497.92 million during the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%.

Institutional Trading of Steel Partners

A number of large investors have recently made changes to their positions in the company. HighTower Advisors LLC grew its stake in Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 577 shares during the period. Teton Advisors Inc. grew its position in shares of Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 500 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors own 50.75% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Steel Partners in a research note on Thursday. They issued a “strong-buy” rating on the stock.

About Steel Partners

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain 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.