Steel Partners Holdings L.P. (NYSE:SPLP) Short Interest Update

Steel Partners Holdings L.P. (NYSE:SPLP) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 2,100 shares, a drop of 40.0% from the October 31st total of 3,500 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 2,000 shares, the days-to-cover ratio is presently 1.1 days.

Steel Partners Stock Performance

SPLP stock traded up $2.49 during trading on Thursday, hitting $43.99. 102,765 shares of the company traded hands, compared to its average volume of 5,503. The stock’s 50-day simple moving average is $40.52 and its 200 day simple moving average is $38.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The company has a market cap of $843.95 million, a PE ratio of 4.51 and a beta of 1.36. Steel Partners has a 1 year low of $33.12 and a 1 year high of $43.99.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. De Lisle Partners LLP boosted its holdings in Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after buying an additional 10,377 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Steel Partners by 0.3% in the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after acquiring an additional 1,700 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares in the last quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Steel Partners in a research note on Sunday. They issued a “strong-buy” rating for the company.

Steel Partners Company Profile

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.