Quinn Opportunity Partners LLC reduced its stake in StoneMor Partners L.P. (NYSE:STON) by 64.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 17,198 shares of the company’s stock after selling 31,702 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in StoneMor Partners L.P. were worth $163,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Crescent Grove Advisors LLC purchased a new position in shares of StoneMor Partners L.P. in the 2nd quarter worth about $139,000. Ameriprise Financial Inc. bought a new stake in StoneMor Partners L.P. in the 1st quarter valued at about $126,000. KCG Holdings Inc. bought a new stake in StoneMor Partners L.P. in the 1st quarter valued at about $186,000. Creative Planning increased its position in shares of StoneMor Partners L.P. by 19.8% during the second quarter. Creative Planning now owns 26,258 shares of the company’s stock valued at $248,000 after buying an additional 4,333 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in shares of StoneMor Partners L.P. during the first quarter valued at about $225,000. 24.61% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on the stock. Citigroup Inc. cut shares of StoneMor Partners L.P. from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. BidaskClub cut shares of StoneMor Partners L.P. from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. UBS AG lowered StoneMor Partners L.P. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. FBR & Co reissued a “marketperform” rating on shares of StoneMor Partners L.P. in a research note on Tuesday, July 11th. Finally, Raymond James Financial, Inc. lowered StoneMor Partners L.P. from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Seven analysts have rated the stock with a hold rating, StoneMor Partners L.P. has a consensus rating of “Hold” and an average price target of $12.00.
StoneMor Partners L.P. (STON) traded down 4.16% during midday trading on Friday, hitting $6.22. The company had a trading volume of 61,972 shares. The stock’s market capitalization is $220.81 million. StoneMor Partners L.P. has a 52 week low of $5.75 and a 52 week high of $25.56. The stock has a 50 day moving average price of $6.46 and a 200-day moving average price of $8.29.
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StoneMor Partners L.P. Profile
StoneMor Partners L.P. owns and operates cemeteries and funeral homes. The Company operates through two segments: Cemetery Operations and Funeral Homes. Its Cemetery Operations segment sells interment rights, caskets, burial vaults, cremation niches, markers and other cemetery related merchandise. Its Funeral Homes segment offers a range of services, including family consultation, final expense insurance products, the removal and preparation of remains, provision of caskets and related funeral merchandise, the use of funeral home facilities for visitation, worship and performance of funeral services, and transportation services.
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