StoneMor Partners L.P. (NYSE:STON) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 347,300 shares, a drop of 6.3% from the September 30th total of 370,700 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 136,300 shares, the short-interest ratio is currently 2.5 days.
Shares of STON traded up $0.01 during mid-day trading on Tuesday, hitting $1.10. 1,300 shares of the company’s stock were exchanged, compared to its average volume of 325,016. StoneMor Partners has a 52 week low of $1.00 and a 52 week high of $4.65. The company has a 50-day simple moving average of $1.15 and a 200 day simple moving average of $1.75.
In other StoneMor Partners news, major shareholder Value Equity Holdings Oaktree sold 470,482 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $1.07, for a total transaction of $503,415.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Axar Capital Management L.P. bought 3,925,660 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $1.00 per share, for a total transaction of $3,925,660.00. The disclosure for this purchase can be found here. Company insiders own 9.80% of the company’s stock.
About StoneMor Partners
StoneMor Partners L.P., together with its subsidiaries, owns and operates cemeteries and funeral homes in the United States. It operates through two segments, Cemetery Operations and Funeral Home Operations. The company's cemetery products and services include interment rights, such as burial lots, lawn crypts, mausoleum crypts, cremation niches, and perpetual care rights; merchandise comprising burial vaults, caskets, grave markers and grave marker bases, and memorials; and installation services for burial vaults, caskets, and other cemetery merchandise, as well as others.
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