Short Interest in StoneMor Partners L.P. (NYSE:STON) Drops By 6.3%

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.

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley grew its stake in shares of StoneMor Partners by 0.4% during the 2nd quarter. Morgan Stanley now owns 4,052,045 shares of the company’s stock worth $8,914,000 after acquiring an additional 14,266 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of StoneMor Partners by 12.5% during the 2nd quarter. Verition Fund Management LLC now owns 901,200 shares of the company’s stock worth $1,983,000 after acquiring an additional 100,000 shares in the last quarter. Legacy Advisors LLC grew its stake in shares of StoneMor Partners by 33.9% during the 3rd quarter. Legacy Advisors LLC now owns 215,934 shares of the company’s stock worth $240,000 after acquiring an additional 54,632 shares in the last quarter. Finally, Atria Investments LLC bought a new position in shares of StoneMor Partners during the 2nd quarter worth approximately $608,000. 47.93% of the stock is owned by institutional investors.

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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