Short Interest in Capital Product Partners L.P. (NASDAQ:CPLP) Expands By 7.8%

Capital Product Partners L.P. (NASDAQ:CPLP) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 40,300 shares, an increase of 7.8% from the May 31st total of 37,400 shares. Based on an average daily trading volume, of 26,200 shares, the short-interest ratio is presently 1.5 days. Approximately 0.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CPLP shares. Stifel Nicolaus decreased their price target on Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. StockNews.com upgraded Capital Product Partners from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Capital Product Partners currently has an average rating of “Moderate Buy” and a consensus target price of $20.67.

Capital Product Partners Stock Up 0.3 %

Shares of CPLP opened at $17.00 on Thursday. The business’s fifty day moving average price is $16.99 and its two-hundred day moving average price is $17.00. The firm has a market capitalization of $941.63 million, a price-to-earnings ratio of 7.42 and a beta of 0.87. Capital Product Partners has a 52 week low of $12.70 and a 52 week high of $18.85. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.20 and a current ratio of 1.41.

Capital Product Partners (NASDAQ:CPLP) last posted its quarterly earnings results on Tuesday, April 30th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $100.64 million for the quarter, compared to analysts’ expectations of $101.95 million. Capital Product Partners had a return on equity of 6.30% and a net margin of 18.51%. On average, analysts predict that Capital Product Partners will post 1.58 earnings per share for the current year.

Capital Product Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Monday, May 6th. Capital Product Partners’s dividend payout ratio is 26.20%.

Hedge Funds Weigh In On Capital Product Partners

A hedge fund recently raised its stake in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 187,697 shares of the shipping company’s stock after purchasing an additional 28,596 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.91% of Capital Product Partners worth $3,266,000 at the end of the most recent reporting period.

About Capital Product Partners

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.