Steel Partners Holdings L.P. (NYSE:SPLP) Sees Significant Increase in Short Interest

Steel Partners Holdings L.P. (NYSE:SPLP) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,800 shares, a growth of 154.5% from the February 13th total of 1,100 shares. Based on an average daily volume of 1,600 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.1% of the company’s stock are sold short.

Steel Partners Stock Down 0.3 %

SPLP stock traded down $0.14 during midday trading on Thursday, hitting $40.42. 383 shares of the company’s stock were exchanged, compared to its average volume of 4,852. The stock has a market capitalization of $775.46 million, a price-to-earnings ratio of 4.15 and a beta of 1.37. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average price of $41.26 and a 200-day moving average price of $41.06. Steel Partners has a 12-month low of $34.55 and a 12-month high of $48.45.

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

Institutional Investors Weigh In On Steel Partners

A number of institutional investors have recently modified their holdings of SPLP. HighTower Advisors LLC boosted its stake in Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares during the period. De Lisle Partners LLP boosted its position in Steel Partners by 83.0% during the 3rd 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 during the period. Gamco Investors INC. ET AL grew its stake 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 last quarter. Finally, Teton Advisors Inc. increased its position in Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after buying an additional 500 shares during the period. Institutional investors own 50.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Steel Partners in a research note on Saturday, March 8th. They set a “strong-buy” rating for the company.

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.