Steel Partners (SPLP) Rating Lowered to Sell at ValuEngine

Steel Partners (NYSE:SPLP) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday.

Shares of SPLP stock opened at $17.80 on Tuesday. The firm has a market cap of $467.00, a price-to-earnings ratio of -593.14 and a beta of 0.83. Steel Partners has a one year low of $17.70 and a one year high of $20.70. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.72 and a current ratio of 2.00.

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Steel Partners (NYSE:SPLP) last posted its earnings results on Friday, March 9th. The conglomerate reported ($0.55) earnings per share for the quarter. The business had revenue of $335.28 million for the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System grew its stake in shares of Steel Partners by 96.3% during the third quarter. California Public Employees Retirement System now owns 25,719 shares of the conglomerate’s stock worth $472,000 after buying an additional 12,619 shares during the last quarter. Wedbush Securities Inc. bought a new stake in shares of Steel Partners during the fourth quarter worth $211,000. EnTrustPermal Partners Offshore LP bought a new stake in shares of Steel Partners during the fourth quarter worth $46,194,000. Finally, Moors & Cabot Inc. grew its stake in shares of Steel Partners by 25.0% during the fourth quarter. Moors & Cabot Inc. now owns 25,000 shares of the conglomerate’s stock worth $489,000 after buying an additional 5,000 shares during the last quarter. 29.34% of the stock is currently owned by hedge funds and other institutional investors.

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Steel Partners Company Profile

Steel Partners Holdings L.P. (SPLP) is a diversified holding company that engages in multiple businesses through consolidated subsidiaries, associated companies and other interests. The Company owns and operates businesses, and has investments in companies, in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking and youth sports.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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