Capital Product Partners L.P. (NASDAQ:CPLP) Short Interest Up 7.2% in March

Capital Product Partners L.P. (NASDAQ:CPLPGet Free Report) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 58,000 shares, an increase of 7.2% from the February 29th total of 54,100 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 154,500 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

CPLP has been the subject of a number of recent analyst reports. Jefferies Financial Group downgraded Capital Product Partners from a “buy” rating to a “hold” rating and decreased their price target for the stock from $22.00 to $18.00 in a report on Tuesday, February 27th. B. Riley raised their target price on Capital Product Partners from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Check Out Our Latest Stock Analysis on Capital Product Partners

Capital Product Partners Price Performance

CPLP stock opened at $17.05 on Thursday. The company has a market capitalization of $351.23 million, a P/E ratio of 7.86 and a beta of 0.86. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.96 and a current ratio of 0.99. Capital Product Partners has a 52-week low of $12.02 and a 52-week high of $18.85. The business has a 50-day simple moving average of $17.81 and a two-hundred day simple moving average of $15.58.

Capital Product Partners (NASDAQ:CPLPGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The shipping company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). The company had revenue of $92.50 million for the quarter, compared to analyst estimates of $93.32 million. Capital Product Partners had a net margin of 13.09% and a return on equity of 7.78%. During the same quarter last year, the firm posted $1.03 EPS. Research analysts expect that Capital Product Partners will post 1.79 EPS for the current fiscal year.

Capital Product Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Tuesday, February 6th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 3.52%. Capital Product Partners’s dividend payout ratio is currently 27.65%.

Hedge Funds Weigh In On Capital Product Partners

Several hedge funds have recently modified their holdings of the company. Aristotle Capital Boston LLC lifted its position in shares of Capital Product Partners by 1.9% during the 2nd quarter. Aristotle Capital Boston LLC now owns 480,828 shares of the shipping company’s stock worth $6,640,000 after buying an additional 8,819 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Capital Product Partners by 597.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 277,121 shares of the shipping company’s stock worth $5,052,000 after buying an additional 237,362 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Capital Product Partners by 11.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,580 shares of the shipping company’s stock worth $2,936,000 after buying an additional 20,746 shares in the last quarter. Morgan Stanley lifted its position in shares of Capital Product Partners by 15.2% during the 4th quarter. Morgan Stanley now owns 87,217 shares of the shipping company’s stock worth $1,191,000 after buying an additional 11,512 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Capital Product Partners by 6.7% in the third quarter. Sei Investments Co. now owns 74,920 shares of the shipping company’s stock valued at $1,050,000 after purchasing an additional 4,677 shares during the last quarter.

About Capital Product Partners

(Get Free Report)

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.

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