Capital Product Partners L.P. (NASDAQ:CPLP) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 62,000 shares, a decline of 5.6% from the July 31st total of 65,700 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 108,300 shares, the days-to-cover ratio is currently 0.6 days.
A number of research analysts have weighed in on CPLP shares. Zacks Investment Research raised shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Capital Product Partners in a research note on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Capital Product Partners has a consensus rating of “Hold” and a consensus target price of $15.67.
Hedge funds have recently made changes to their positions in the company. Mraz Amerine & Associates Inc. lifted its position in shares of Capital Product Partners by 109.8% in the first quarter. Mraz Amerine & Associates Inc. now owns 23,118 shares of the shipping company’s stock worth $53,000 after purchasing an additional 12,100 shares in the last quarter. Goodman Financial Corp increased its holdings in shares of Capital Product Partners by 1.0% in the first quarter. Goodman Financial Corp now owns 973,494 shares of the shipping company’s stock valued at $1,460,000 after purchasing an additional 9,530 shares during the last quarter. Concorde Asset Management LLC acquired a new position in shares of Capital Product Partners in the second quarter valued at $425,000. Acadian Asset Management LLC increased its holdings in shares of Capital Product Partners by 731.0% in the second quarter. Acadian Asset Management LLC now owns 27,848 shares of the shipping company’s stock valued at $293,000 after purchasing an additional 24,497 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Capital Product Partners by 385.3% in the fourth quarter. Millennium Management LLC now owns 60,073 shares of the shipping company’s stock valued at $126,000 after purchasing an additional 47,695 shares during the last quarter. 21.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of CPLP stock traded down $0.07 during trading on Monday, reaching $10.69. The company’s stock had a trading volume of 764 shares, compared to its average volume of 72,826. The business has a fifty day moving average price of $10.71 and a 200-day moving average price of $9.34. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. The company has a market cap of $194.71 million, a price-to-earnings ratio of 10.93 and a beta of 1.01. Capital Product Partners has a one year low of $9.68 and a one year high of $20.44.
Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. The business had revenue of $26.83 million for the quarter, compared to analyst estimates of $27.32 million. Capital Product Partners had a negative net margin of 69.36% and a positive return on equity of 5.70%. Research analysts anticipate that Capital Product Partners will post 1.11 EPS for the current year.
Capital Product Partners Company Profile
Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.
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