Capital Product Partners L.P. (NASDAQ:CPLP) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its stake in Capital Product Partners L.P. (NASDAQ:CPLP) by 24.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 159,101 shares of the shipping company’s stock after selling 50,479 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.77% of Capital Product Partners worth $2,259,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Sei Investments Co. grew its stake in shares of 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 buying an additional 4,677 shares in the last quarter. Geode Capital Management LLC purchased a new position in Capital Product Partners in the second quarter valued at about $142,000. BNP Paribas Arbitrage SNC grew its stake in Capital Product Partners by 24.2% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 24,581 shares of the shipping company’s stock valued at $337,000 after purchasing an additional 4,788 shares in the last quarter. Aristotle Capital Boston LLC grew its stake in Capital Product Partners by 3.4% during the 1st quarter. Aristotle Capital Boston LLC now owns 472,009 shares of the shipping company’s stock valued at $6,334,000 after purchasing an additional 15,315 shares in the last quarter. Finally, Morgan Stanley grew its stake in Capital Product Partners by 15.2% during the 4th quarter. Morgan Stanley now owns 87,217 shares of the shipping company’s stock valued at $1,191,000 after purchasing an additional 11,512 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CPLP shares. Stifel Nicolaus lowered their price objective on Capital Product Partners from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday. B. Riley raised their price objective 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. Finally, Jefferies Financial Group lowered Capital Product Partners from a “buy” rating to a “hold” rating and lowered their price objective for the company from $22.00 to $18.00 in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.67.

Capital Product Partners Price Performance

Shares of CPLP opened at $16.90 on Friday. The firm has a market cap of $348.14 million, a price-to-earnings ratio of 7.79 and a beta of 0.86. The stock has a 50 day moving average of $17.54 and a 200-day moving average of $15.78. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 2.27. Capital Product Partners L.P. has a 52 week low of $12.02 and a 52 week high of $18.85.

Capital Product Partners (NASDAQ:CPLP) last issued its earnings results on Friday, February 2nd. The shipping company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.04). The firm had revenue of $92.50 million during the quarter, compared to analyst estimates of $93.32 million. Capital Product Partners had a return on equity of 7.78% and a net margin of 13.09%. During the same quarter in the previous year, the business posted $1.03 EPS. As a group, analysts forecast that Capital Product Partners L.P. will post 1.79 EPS for the current year.

Capital Product Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, February 6th were given a $0.15 dividend. The ex-dividend date was Monday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 3.55%. Capital Product Partners’s payout ratio is 27.65%.

Capital Product Partners Profile

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.