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

Steel Partners Holdings L.P. (NYSE:SPLP) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 800 shares, a drop of 65.2% from the January 15th total of 2,300 shares. Based on an average daily trading volume, of 3,600 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s shares are sold short.

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP boosted its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,877 shares of the conglomerate’s stock after purchasing an additional 10,377 shares during the period. De Lisle Partners LLP owned about 0.12% of Steel Partners worth $924,000 at the end of the most recent reporting period. Institutional investors own 50.75% of the company’s stock.

Steel Partners Trading Down 4.7 %

NYSE:SPLP traded down $2.00 during midday trading on Wednesday, reaching $40.95. 2,640 shares of the stock traded hands, compared to its average volume of 1,988. The stock has a market capitalization of $785.64 million, a P/E ratio of 4.20 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The company has a fifty day moving average of $41.78 and a 200 day moving average of $40.56. Steel Partners has a 12 month low of $33.12 and a 12 month high of $48.45.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Steel Partners in a research report on Wednesday. They issued a “strong-buy” rating for the company.

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.