Short Interest in Steel Partners Holdings L.P. (NYSE:SPLP) Declines By 89.7%

Steel Partners Holdings L.P. (NYSE:SPLP) saw a large drop in short interest in December. As of December 15th, there was short interest totalling 600 shares, a drop of 89.7% from the November 30th total of 5,800 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 3,100 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Steel Partners

Hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its position in Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares in the last quarter. Gabelli Funds LLC boosted its position in Steel Partners by 0.3% during the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after purchasing an additional 1,700 shares in the last quarter. Finally, De Lisle Partners LLP grew its stake in Steel Partners by 83.0% in the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after purchasing an additional 10,377 shares during the last quarter. 50.75% of the stock is owned by hedge funds and other institutional investors.

Steel Partners Stock Down 0.4 %

Shares of SPLP stock traded down $0.19 during mid-day trading on Friday, hitting $42.25. The stock had a trading volume of 13,607 shares, compared to its average volume of 5,202. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The firm’s 50-day moving average is $41.30 and its two-hundred day moving average is $39.50. The firm has a market capitalization of $810.57 million, a P/E ratio of 4.33 and a beta of 1.38.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Steel Partners in a research note on Thursday. They set a “strong-buy” rating for the company.

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.