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

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 800 shares, a drop of 65.2% from the January 15th total of 2,300 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,600 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Steel Partners

A number of institutional investors and hedge funds have recently bought and sold shares of SPLP. De Lisle Partners LLP boosted its stake in shares of Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate's stock valued at $924,000 after purchasing an additional 10,377 shares in the last quarter. Gamco Investors INC. ET AL boosted its position 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 buying an additional 3,300 shares during the period. HighTower Advisors LLC grew its holdings in Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate's stock worth $1,082,000 after acquiring an additional 635 shares during the last quarter. Finally, Teton Advisors Inc. increased its position in 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 acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 50.75% of the company's stock.

Analysts Set New Price Targets

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

Steel Partners Price Performance

Steel Partners stock traded down $0.82 during mid-day trading on Friday, reaching $41.18. The company had a trading volume of 1,074 shares, compared to its average volume of 1,666. The business has a fifty day simple moving average of $41.64 and a 200 day simple moving average of $40.61. The company has a market cap of $790.04 million, a P/E ratio of 4.22 and a beta of 1.38. 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 fifty-two week low of $33.12 and a fifty-two week high of $48.45.

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.