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

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,800 shares, a growth of 154.5% from the February 13th total of 1,100 shares. Based on an average daily trading volume, of 1,600 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.1% of the shares of the company are short sold.

Steel Partners Price Performance

Shares of Steel Partners stock traded up $1.18 during trading on Monday, reaching $40.88. The company's stock had a trading volume of 1,437 shares, compared to its average volume of 1,536. The business has a 50 day moving average price of $41.16 and a 200-day moving average price of $41.09. The company has a market capitalization of $779.69 million, a P/E ratio of 4.19 and a beta of 1.37. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. Steel Partners has a 12-month low of $34.55 and a 12-month high of $48.45.

Steel Partners (NYSE:SPLP - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. The company 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%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Steel Partners in a report on Sunday. They set a "strong-buy" rating for the company.

Remove Ads

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL raised its position in Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock worth $4,123,000 after acquiring an additional 3,300 shares during the last quarter. HighTower Advisors LLC lifted its stake in Steel Partners by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock valued at $1,149,000 after buying an additional 577 shares in the last quarter. De Lisle Partners LLP grew its holdings in Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate's stock valued at $924,000 after buying an additional 10,377 shares during the last quarter. Finally, Teton Advisors Inc. increased its position in Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock worth $553,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 50.75% of the company's 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.