Martin Midstream Partners L.P. (NASDAQ:MMLP) Sees Significant Increase in Short Interest

Martin Midstream Partners L.P. (NASDAQ:MMLP) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 103,567 shares, an increase of 16.6% from the February 12th total of 88,855 shares. Based on an average trading volume of 7,831 shares, the short-interest ratio is currently 13.2 days. Currently, 0.3% of the company’s shares are sold short. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 7,831 shares, the short-interest ratio is currently 13.2 days.

Analyst Ratings Changes

MMLP has been the topic of a number of research reports. Stifel Nicolaus cut their price target on shares of Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, March 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Martin Midstream Partners in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $3.00.

Hedge Funds Weigh In On Martin Midstream Partners

Several hedge funds have recently modified their holdings of MMLP. Artisan Partners Limited Partnership raised its holdings in Martin Midstream Partners by 7.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 114,935 shares of the pipeline company’s stock worth $300,000 after acquiring an additional 7,596 shares in the last quarter. Commerce Bank bought a new position in Martin Midstream Partners in the fourth quarter valued at approximately $28,000. Jane Street Group LLC increased its position in shares of Martin Midstream Partners by 139.3% during the 4th quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock worth $63,000 after purchasing an additional 14,010 shares during the last quarter. Susquehanna International Group LLP increased its position in shares of Martin Midstream Partners by 298.9% during the 3rd quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock worth $135,000 after purchasing an additional 33,064 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Martin Midstream Partners during the 3rd quarter worth approximately $41,000. Institutional investors own 34.90% of the company’s stock.

Martin Midstream Partners Stock Up 3.5%

NASDAQ MMLP opened at $2.68 on Thursday. The firm’s 50 day moving average is $2.83 and its 200-day moving average is $2.82. The company has a market capitalization of $104.68 million, a PE ratio of -7.24 and a beta of 0.56. Martin Midstream Partners has a 12-month low of $2.21 and a 12-month high of $3.85.

Martin Midstream Partners (NASDAQ:MMLP) last announced its earnings results on Wednesday, February 18th. The pipeline company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.13). The company had revenue of $174.20 million for the quarter, compared to analyst estimates of $194.47 million. As a group, sell-side analysts expect that Martin Midstream Partners will post 0.15 EPS for the current year.

Martin Midstream Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were given a dividend of $0.005 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.02 annualized dividend and a yield of 0.7%. Martin Midstream Partners’s payout ratio is -5.41%.

About Martin Midstream Partners

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.