Steel Partners (NYSE:SPLP) Shares Gap Up – Should You Buy?

Steel Partners Holdings L.P. (NYSE:SPLP)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $37.00, but opened at $39.50. Steel Partners shares last traded at $39.50, with a volume of 1,030 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Steel Partners in a report on Saturday, January 11th. They issued a “strong-buy” rating on the stock.

Steel Partners Trading Down 1.1 %

The firm has a market capitalization of $776.69 million, a PE ratio of 4.15 and a beta of 1.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The firm has a fifty day moving average of $41.84 and a 200 day moving average of $39.99.

Institutional Investors Weigh In On Steel Partners

Several hedge funds have recently modified their holdings of the stock. Gabelli Funds LLC raised its holdings in shares of Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after buying an additional 1,700 shares during the period. HighTower Advisors LLC grew its stake 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 purchasing an additional 635 shares in the last quarter. Finally, De Lisle Partners LLP grew its stake in Steel Partners by 83.0% during the 3rd 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 in the last quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

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.