Steel Partners (NYSE:SPLP) Shares Gap Down - Time to Sell?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $42.95, but opened at $40.03. Steel Partners shares last traded at $41.08, with a volume of 515 shares.

Analysts Set New Price Targets

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

Steel Partners Trading Down 2.0 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The company has a 50 day moving average of $41.64 and a 200 day moving average of $40.61. The stock has a market capitalization of $790.04 million, a price-to-earnings ratio of 4.22 and a beta of 1.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPLP. De Lisle Partners LLP lifted its position in Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate's stock worth $924,000 after buying an additional 10,377 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Steel Partners by 2.5% in 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. Gamco Investors INC. ET AL raised its holdings 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 worth $4,123,000 after acquiring an additional 3,300 shares during the period. Finally, Teton Advisors Inc. boosted 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 last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.

About Steel Partners

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.