Steel Partners Holdings L.P. (NYSE:SPLP) Sees Large Growth in Short Interest

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

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Steel Partners in a research note on Saturday, March 8th. They issued a “strong-buy” rating on the stock.

Institutional Investors Weigh In On Steel Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Teton Advisors Inc. increased its position in shares of Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after acquiring an additional 500 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Steel Partners by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 577 shares during the last quarter. Gamco Investors INC. ET AL increased its position in shares of Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares during the last quarter. Finally, De Lisle Partners LLP increased its position in shares of Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after acquiring an additional 10,377 shares during the last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.

Steel Partners Trading Down 0.5 %

Steel Partners stock traded down $0.21 during midday trading on Friday, hitting $40.22. 991 shares of the stock were exchanged, compared to its average volume of 4,831. Steel Partners has a fifty-two week low of $34.55 and a fifty-two week high of $48.45. The stock has a market capitalization of $767.10 million, a price-to-earnings ratio of 4.12 and a beta of 1.37. The stock’s 50-day simple moving average is $41.16 and its 200 day simple moving average is $41.07. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

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

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.