Steel Partners (NYSE:SPLP) Shares Gap Down to $38.88

Steel Partners Holdings L.P. (NYSE:SPLP) shares gapped down prior to trading on Thursday . The stock had previously closed at $38.88, but opened at $37.50. Steel Partners shares last traded at $37.50, with a volume of 400 shares.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Steel Partners in a report on Saturday, April 6th. They issued a “strong-buy” rating for the company.

Steel Partners Stock Performance

The company’s 50-day moving average price is $38.00 and its two-hundred day moving average price is $10,069.70. The company has a market cap of $797.72 million, a P/E ratio of 6.00 and a beta of 1.26. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings results on Friday, March 8th. The conglomerate reported $1.75 earnings per share for the quarter. Steel Partners had a return on equity of 16.41% and a net margin of 7.92%. The firm had revenue of $466.91 million for the quarter.

Institutional Investors Weigh In On Steel Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teton Advisors Inc. raised its stake in shares of Steel Partners by 3.4% in the third quarter. Teton Advisors Inc. now owns 9,800 shares of the conglomerate’s stock valued at $417,000 after purchasing an additional 318 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Steel Partners by 2.2% in the 3rd quarter. HighTower Advisors LLC now owns 24,065 shares of the conglomerate’s stock valued at $1,023,000 after purchasing an additional 522 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of Steel Partners in the 1st quarter worth approximately $122,000. Finally, Advisory Services Network LLC bought a new position in shares of Steel Partners during the 4th quarter worth approximately $120,000. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.