Short Interest in Capital Product Partners L.P. (NASDAQ:CPLP) Drops By 14.0%

Capital Product Partners L.P. (NASDAQ:CPLP) saw a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 37,400 shares, a decline of 14.0% from the May 15th total of 43,500 shares. Based on an average daily volume of 30,700 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPLP. StockNews.com upgraded shares of Capital Product Partners from a “hold” rating to a “buy” rating in a report on Friday. Stifel Nicolaus reduced their price target on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, Jefferies Financial Group lowered shares of Capital Product Partners from a “buy” rating to a “hold” rating and reduced their target price for the stock from $22.00 to $18.00 in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Capital Product Partners Trading Up 2.3 %

Shares of CPLP traded up $0.41 on Tuesday, reaching $17.95. 27,949 shares of the company’s stock were exchanged, compared to its average volume of 96,351. The company has a current ratio of 1.41, a quick ratio of 1.20 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $994.25 million, a P/E ratio of 7.84 and a beta of 0.87. The business has a 50 day moving average price of $16.88 and a two-hundred day moving average price of $16.74. Capital Product Partners has a 12 month low of $12.70 and a 12 month high of $18.85.

Capital Product Partners (NASDAQ:CPLP) last posted its quarterly earnings results on Tuesday, April 30th. The shipping company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $100.64 million during the quarter, compared to the consensus estimate of $101.95 million. Capital Product Partners had a net margin of 18.51% and a return on equity of 6.30%. Research analysts anticipate that Capital Product Partners will post 1.58 earnings per share for the current year.

Capital Product Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.34%. The ex-dividend date was Monday, May 6th. Capital Product Partners’s payout ratio is presently 26.20%.

Institutional Investors Weigh In On Capital Product Partners

A hedge fund recently raised its stake in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. raised its position in Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 187,697 shares of the shipping company’s stock after purchasing an additional 28,596 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.91% of Capital Product Partners worth $3,266,000 as of its most recent filing with the SEC.

About Capital Product Partners

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.