Steel Partners Holdings L.P. (NYSE:SPLP) Short Interest Down 36.5% in October

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 3,300 shares, a decrease of 36.5% from the September 30th total of 5,200 shares. Based on an average trading volume of 1,700 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.1% of the company's shares are short sold.

Steel Partners Stock Performance

Shares of SPLP stock remained flat at $40.49 during trading hours on Friday. 45 shares of the stock traded hands, compared to its average volume of 5,237. The company's fifty day simple moving average is $40.30 and its 200 day simple moving average is $38.43. The stock has a market capitalization of $825.71 million, a price-to-earnings ratio of 5.93 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. Steel Partners has a one year low of $33.12 and a one year high of $43.00.

Steel Partners (NYSE:SPLP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share for the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%. The firm had revenue of $533.16 million during the quarter.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC grew its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596,503 shares of the conglomerate's stock after buying an additional 1,700 shares during the quarter. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 at the end of the most recent reporting period. 50.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Steel Partners in a research report on Wednesday. They set a "strong-buy" rating on the stock.

Steel Partners Company Profile

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.