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

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

Institutional Trading of Steel Partners

Several institutional investors and hedge funds have recently bought and sold shares of the company. Gabelli Funds LLC increased its stake 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 during the last quarter. HighTower Advisors LLC lifted its holdings in Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares during the last quarter. Finally, De Lisle Partners LLP boosted 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 acquiring an additional 10,377 shares during the period. Institutional investors and hedge funds own 50.75% of the company’s stock.

Analysts Set New Price Targets

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

Steel Partners Stock Up 0.6 %

Shares of SPLP traded up $0.27 during midday trading on Thursday, hitting $42.44. The company had a trading volume of 522 shares, compared to its average volume of 5,157. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. Steel Partners has a 52 week low of $33.12 and a 52 week high of $48.45. The company’s 50 day moving average price is $41.27 and its 200 day moving average price is $39.44. The stock has a market cap of $814.21 million, a price-to-earnings ratio of 4.35 and a beta of 1.38.

Steel Partners Company Profile

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.