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

Steel Partners Holdings L.P. (NYSE:SPLP) was the target of a significant increase in short interest in the month of 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. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 1,600 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Trading of Steel Partners

Institutional investors have recently modified their holdings of the stock. Teton Advisors Inc. increased its holdings in shares of Steel Partners by 4.0% in the 4th 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 period. HighTower Advisors LLC increased its holdings in shares of Steel Partners by 2.2% in the 4th 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 period. Gamco Investors INC. ET AL increased its holdings in shares of Steel Partners by 3.5% in the 4th 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 period. Finally, De Lisle Partners LLP increased its holdings in shares of Steel Partners by 83.0% in the 3rd 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 period. Hedge funds and other institutional investors own 50.75% of the company’s stock.

Analysts Set New Price Targets

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

Steel Partners Stock Down 0.5 %

Steel Partners stock traded down $0.21 during trading on Friday, reaching $40.22. The stock had a trading volume of 991 shares, compared to its average volume of 4,831. Steel Partners has a 52-week low of $34.55 and a 52-week high of $48.45. The business has a 50 day moving average price of $41.16 and a 200 day moving average price of $41.07. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The stock has a market cap of $767.10 million, a PE ratio of 4.12 and a beta of 1.37.

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

About Steel Partners

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.