Steel Partners (NYSE:SPLP) Shares Gap Up - Time to Buy?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $33.40, but opened at $34.55. Steel Partners shares last traded at $33.90, with a volume of 511 shares traded.

Wall Street Analysts Forecast Growth

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

Steel Partners Price Performance

The stock has a market capitalization of $661.67 million, a price-to-earnings ratio of 3.54 and a beta of 1.01. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average of $39.77 and a 200-day moving average of $40.77.

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

Institutional Trading of Steel Partners

Large investors have recently made changes to their positions in the company. Teton Advisors Inc. lifted its stake in Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock valued at $553,000 after buying an additional 500 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of 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 acquiring an additional 577 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock valued at $4,123,000 after purchasing an additional 3,300 shares during the last quarter. 50.75% of the stock is 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.