Steel Partners Holdings LP (NYSE:SPLP) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 4,900 shares, an increase of 44.1% from the September 30th total of 3,400 shares. Based on an average daily volume of 8,000 shares, the short-interest ratio is presently 0.6 days. Currently, 0.0% of the shares of the stock are sold short.
In other news, major shareholder Steel Partners Holdings L.P. sold 407,200 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $3.70, for a total value of $1,506,640.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 56.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Steel Partners in the 2nd quarter worth approximately $45,000. Russell Investments Group Ltd. boosted its holdings in shares of Steel Partners by 44.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,545 shares of the conglomerate’s stock worth $92,000 after acquiring an additional 2,029 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Steel Partners by 7.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 28,736 shares of the conglomerate’s stock worth $402,000 after acquiring an additional 2,100 shares in the last quarter. Family Management Corp acquired a new position in shares of Steel Partners in the 2nd quarter worth approximately $614,000. Finally, Morgan Stanley boosted its holdings in shares of Steel Partners by 52.4% in the 2nd quarter. Morgan Stanley now owns 1,911,013 shares of the conglomerate’s stock worth $26,753,000 after acquiring an additional 656,777 shares in the last quarter. 30.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of SPLP traded up $0.05 on Wednesday, hitting $12.19. The company’s stock had a trading volume of 7,200 shares, compared to its average volume of 45,714. The company has a quick ratio of 0.99, a current ratio of 1.17 and a debt-to-equity ratio of 0.92. Steel Partners has a fifty-two week low of $11.92 and a fifty-two week high of $15.71. The company has a 50 day moving average price of $12.54 and a 200 day moving average price of $13.36.
Separately, ValuEngine raised Steel Partners from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.
Steel Partners Company Profile
Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services 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.
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