StoneMor Partners (NYSE:STON) Trading Down 6.8% Following Insider Selling

StoneMor Partners L.P. (NYSE:STON) shares traded down 6.8% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $0.99 and last traded at $1.10, 768,369 shares were traded during mid-day trading. An increase of 304% from the average session volume of 190,039 shares. The stock had previously closed at $1.18.

Specifically, major shareholder Mangrove Partners Master Fund, sold 50,805 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $1.51, for a total value of $76,715.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 400,445 shares of company stock valued at $476,798 in the last three months. Company insiders own 9.80% of the company’s stock.

The business’s fifty day moving average is $1.09 and its 200-day moving average is $1.19. The firm has a market cap of $50.31 million, a P/E ratio of -0.29 and a beta of 1.08.

A hedge fund recently raised its stake in StoneMor Partners stock. UBS Group AG boosted its holdings in StoneMor Partners L.P. (NYSE:STON) by 35.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,654 shares of the company’s stock after buying an additional 46,102 shares during the quarter. UBS Group AG owned approximately 0.41% of StoneMor Partners worth $256,000 at the end of the most recent reporting period. 65.38% of the stock is currently owned by institutional investors and hedge funds.

About StoneMor Partners (NYSE:STON)

StoneMor Partners L.P., together with its subsidiaries, owns and operates cemeteries and funeral homes in the United States. It operates through two segments, Cemetery Operations and Funeral Home Operations. The company's cemetery products and services include interment rights, such as burial lots, lawn crypts, mausoleum crypts, cremation niches, and perpetual care rights; merchandise comprising burial vaults, caskets, grave markers and grave marker bases, and memorials; and installation services for burial vaults, caskets, and other cemetery merchandise, as well as others.

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