Short Interest in Steel Partners Holdings LP (NYSE:SPLP) Decreases By 39.3%

Steel Partners Holdings LP (NYSE:SPLP) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 5,400 shares, a drop of 39.3% from the May 30th total of 8,900 shares. Based on an average daily volume of 11,700 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the company’s stock are short sold.

Several hedge funds have recently added to or reduced their stakes in the company. Steel Partners Holdings L.P. boosted its stake in shares of Steel Partners by 33.7% in the 1st quarter. Steel Partners Holdings L.P. now owns 1,984,203 shares of the conglomerate’s stock worth $27,441,000 after buying an additional 500,000 shares during the last quarter. Moors & Cabot Inc. lifted its position in Steel Partners by 100.0% during the first quarter. Moors & Cabot Inc. now owns 50,000 shares of the conglomerate’s stock valued at $692,000 after purchasing an additional 25,000 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Steel Partners during the fourth quarter valued at $488,000. Finally, Gamco Investors INC. ET AL lifted its position in Steel Partners by 8.1% during the first quarter. Gamco Investors INC. ET AL now owns 26,636 shares of the conglomerate’s stock valued at $368,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 30.61% of the company’s stock.

SPLP remained flat at $$13.63 during trading on Friday. The company’s stock had a trading volume of 211 shares, compared to its average volume of 5,763. The company’s 50-day simple moving average is $13.75. The company has a current ratio of 1.38, a quick ratio of 1.15 and a debt-to-equity ratio of 0.96. Steel Partners has a 1-year low of $12.93 and a 1-year high of $17.20.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Thursday, May 2nd. The conglomerate reported $0.48 earnings per share (EPS) for the quarter. The firm had revenue of $387.05 million for the quarter. Steel Partners had a negative return on equity of 1.47% and a negative net margin of 0.49%.

Separately, TheStreet upgraded Wayside Technology Group from a “c” rating to a “b-” rating in a research note on Friday, April 12th.

About Steel Partners

Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services 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.

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