Steel Partners Holdings L.P. (NYSE:SPLP) Sees Large Growth in Short Interest

Steel Partners Holdings L.P. (NYSE:SPLP) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 5,700 shares, an increase of 850.0% from the December 15th total of 600 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 3,300 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. De Lisle Partners LLP increased its position in Steel Partners by 83.0% during 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 last quarter. Gabelli Funds LLC grew its position in shares of Steel Partners by 0.3% during the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after purchasing an additional 1,700 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings 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 buying an additional 635 shares in the last quarter. Hedge funds and other institutional investors own 50.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Steel Partners in a report on Saturday. They set a “strong-buy” rating on the stock.

Steel Partners Price Performance

NYSE:SPLP traded up $1.14 during mid-day trading on Monday, hitting $44.00. 1,351 shares of the stock traded hands, compared to its average volume of 1,707. 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 12-month low of $33.12 and a 12-month high of $48.45. The company has a market cap of $844.14 million, a PE ratio of 4.51 and a beta of 1.39. The business’s 50-day moving average price is $41.74 and its 200 day moving average price is $39.94.

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.