Steel Partners Holdings L.P. (NYSE:SPLP) Sees Significant Drop in Short Interest

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

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Steel Partners in a research report on Thursday, April 17th. They set a "strong-buy" rating on the stock.

Steel Partners Stock Performance

SPLP traded up $0.58 during midday trading on Wednesday, hitting $34.98. 213 shares of the company were exchanged, compared to its average volume of 4,360. The company's 50 day simple moving average is $39.64 and its 200 day simple moving average is $40.72. The firm has a market capitalization of $669.90 million, a price-to-earnings ratio of 3.59 and a beta of 1.01. 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 has a 1-year low of $27.95 and a 1-year high of $48.45.

Steel Partners (NYSE:SPLP - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. The company had revenue of $497.92 million for the quarter.

Institutional Investors Weigh In On Steel Partners

Institutional investors have recently modified their holdings of the business. Teton Advisors Inc. grew its position in shares of Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock valued at $553,000 after acquiring an additional 500 shares during the period. HighTower Advisors LLC grew its position in shares of Steel Partners by 2.2% during the 4th 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. Finally, Gamco Investors INC. ET AL grew its position in shares of Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock valued at $4,123,000 after acquiring an additional 3,300 shares during the period. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.