Short Interest in Capital Product Partners L.P. (NASDAQ:CPLP) Declines By 5.5%

Capital Product Partners L.P. (NASDAQ:CPLP) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 54,800 shares, a drop of 5.5% from the March 15th total of 58,000 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 124,300 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Capital Product Partners by 11.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,580 shares of the shipping company’s stock valued at $2,936,000 after buying an additional 20,746 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Capital Product Partners by 2,886,050.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 57,723 shares of the shipping company’s stock worth $1,052,000 after purchasing an additional 57,721 shares in the last quarter. Sei Investments Co. increased its holdings in Capital Product Partners by 6.7% during the 3rd quarter. Sei Investments Co. now owns 74,920 shares of the shipping company’s stock worth $1,050,000 after purchasing an additional 4,677 shares in the last quarter. State Street Corp bought a new position in Capital Product Partners during the 3rd quarter worth about $857,000. Finally, BNP Paribas Arbitrage SNC increased its holdings in Capital Product Partners by 24.2% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 24,581 shares of the shipping company’s stock worth $337,000 after purchasing an additional 4,788 shares in the last quarter.

Capital Product Partners Trading Down 2.0 %

CPLP stock opened at $16.15 on Tuesday. The firm has a market cap of $332.69 million, a P/E ratio of 7.44 and a beta of 0.86. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 2.27. Capital Product Partners has a 1-year low of $12.02 and a 1-year high of $18.85. The business’s 50 day moving average is $17.62 and its 200-day moving average is $15.75.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Friday, February 2nd. The shipping company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.04). The business had revenue of $92.50 million during the quarter, compared to analyst estimates of $93.32 million. Capital Product Partners had a return on equity of 7.78% and a net margin of 13.09%. During the same period in the previous year, the firm earned $1.03 earnings per share. Equities analysts anticipate that Capital Product Partners will post 1.79 earnings per share for the current fiscal year.

Capital Product Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, February 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend was Monday, February 5th. Capital Product Partners’s dividend payout ratio (DPR) is currently 27.65%.

Wall Street Analyst Weigh In

CPLP has been the topic of a number of recent research reports. Jefferies Financial Group cut Capital Product Partners from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $18.00 in a report on Tuesday, February 27th. B. Riley lifted their price objective on Capital Product Partners from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Capital Product Partners currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Capital Product Partners Company Profile

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.