Steel Partners (NYSE:SPLP) Shares Gap Up – Should You Buy?

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $43.10, but opened at $44.90. Steel Partners shares last traded at $44.95, with a volume of 734 shares changing hands.

Steel Partners Price Performance

The company has a market cap of $899.58 million, a price-to-earnings ratio of 4.61 and a beta of 0.58. The company’s 50 day moving average price is $42.90 and its 200 day moving average price is $42.13. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gamco Investors INC. ET AL grew its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,648 shares of the conglomerate’s stock after buying an additional 3,276 shares during the quarter. Gamco Investors INC. ET AL owned about 0.52% of Steel Partners worth $4,139,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 50.75% of the company’s stock.

About Steel Partners

Steel Partners Holdings L.P. (NYSE:SPLP) is a diversified holding company founded in 1990 by Robert P. Steel. Through a collection of operating subsidiaries, the firm invests in and manages businesses across a range of industries, including steel and metal manufacturing, precision machining, performance materials, and equipment distribution. In addition to its core industrial operations, Steel Partners maintains interests in real estate, transportation services, dental support, and digital imaging solutions, reflecting a strategy of building value through diversified assets.

Headquartered in New York, Steel Partners conducts operations through regional offices, manufacturing plants and distribution centers located throughout the United States, Canada and selected European markets.