Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Gap Down to $15.64

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $15.64, but opened at $15.00. Calumet Specialty Products Partners shares last traded at $15.23, with a volume of 132,670 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CLMT shares. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, May 13th. The Goldman Sachs Group cut their target price on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Finally, StockNews.com assumed coverage on shares of Calumet Specialty Products Partners in a report on Thursday, July 11th. They issued a “hold” rating for the company.

Calumet Specialty Products Partners Trading Down 2.9 %

The stock has a 50-day moving average price of $16.05 and a 200 day moving average price of $15.92.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its earnings results on Friday, May 10th. The oil and gas company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.13. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $984.10 million. Research analysts forecast that Calumet Specialty Products Partners, L.P. will post -1.84 EPS for the current year.

Insider Buying and Selling

In other Calumet Specialty Products Partners news, SVP Gregory J. Morical sold 11,111 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $15.04, for a total transaction of $167,109.44. Following the completion of the transaction, the senior vice president now owns 33,845 shares in the company, valued at approximately $509,028.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. ARS Investment Partners LLC boosted its position in Calumet Specialty Products Partners by 16.7% during the 2nd quarter. ARS Investment Partners LLC now owns 31,500 shares of the oil and gas company’s stock worth $506,000 after acquiring an additional 4,500 shares during the last quarter. Sapient Capital LLC boosted its holdings in Calumet Specialty Products Partners by 9.5% during the second quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock worth $185,000 after purchasing an additional 1,000 shares during the last quarter. Deuterium Capital Management LLC bought a new position in Calumet Specialty Products Partners in the first quarter valued at $159,000. GSA Capital Partners LLP acquired a new stake in Calumet Specialty Products Partners in the 1st quarter valued at $493,000. Finally, J.W. Cole Advisors Inc. lifted its position in Calumet Specialty Products Partners by 4.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock worth $306,000 after buying an additional 850 shares in the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.