Steel Partners Holdings L.P. (NYSE:SPLP) Sees Significant Decline in Short Interest

Steel Partners Holdings L.P. (NYSE:SPLP) saw a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 6,100 shares, a decrease of 18.7% from the May 15th total of 7,500 shares. Based on an average daily volume of 8,100 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. HighTower Advisors LLC increased its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,065 shares of the conglomerate’s stock after purchasing an additional 522 shares during the quarter. HighTower Advisors LLC owned 0.11% of Steel Partners worth $1,023,000 at the end of the most recent reporting period. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

Steel Partners Stock Performance

NYSE:SPLP remained flat at $36.50 during mid-day trading on Monday. 300 shares of the company were exchanged, compared to its average volume of 7,440. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $744.24 million, a price-to-earnings ratio of 5.34 and a beta of 1.34. Steel Partners has a 1-year low of $33.12 and a 1-year high of $48.00. The business’s 50 day moving average is $37.87 and its two-hundred day moving average is $10,209.92.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share for the quarter. The company had revenue of $476.35 million during the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.61%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Steel Partners in a report on Monday. They issued a “strong-buy” rating on the stock.

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.