Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Sees Large Growth in Short Interest

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 909,000 shares, a growth of 9.5% from the March 15th total of 830,500 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 123,000 shares, the days-to-cover ratio is currently 7.4 days.

Calumet Specialty Products Partners Trading Down 2.4 %

Shares of CLMT traded down $0.37 during mid-day trading on Monday, reaching $15.00. The company's stock had a trading volume of 65,470 shares, compared to its average volume of 118,509. Calumet Specialty Products Partners has a 52 week low of $11.91 and a 52 week high of $19.91. The stock has a market cap of $1.20 billion, a PE ratio of 18.97 and a beta of 1.76. The company's fifty day moving average price is $15.55 and its two-hundred day moving average price is $16.10.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last posted its quarterly earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The business had revenue of $976.50 million for the quarter, compared to analyst estimates of $856.71 million. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm posted ($0.21) EPS. Research analysts anticipate that Calumet Specialty Products Partners will post -0.52 EPS for the current year.

Insider Buying and Selling

In other Calumet Specialty Products Partners news, Director Stephen P. Mawer sold 15,037 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $17.87, for a total transaction of $268,711.19. Following the completion of the transaction, the director now directly owns 172,610 shares of the company's stock, valued at $3,084,540.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CLMT. Wasserstein Debt Opportunities Management L.P. purchased a new position in Calumet Specialty Products Partners during the 4th quarter valued at $119,698,000. Morgan Stanley lifted its holdings in Calumet Specialty Products Partners by 64.4% in the fourth quarter. Morgan Stanley now owns 887,601 shares of the oil and gas company's stock worth $14,983,000 after buying an additional 347,639 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Calumet Specialty Products Partners by 2.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 577,806 shares of the oil and gas company's stock worth $10,325,000 after acquiring an additional 11,750 shares during the period. Grizzlyrock Capital LLC bought a new position in shares of Calumet Specialty Products Partners in the 4th quarter worth approximately $8,909,000. Finally, Corient Private Wealth LLC purchased a new position in Calumet Specialty Products Partners during the 4th quarter valued at about $8,312,000. Hedge funds and other institutional investors own 34.41% of the company's stock.

Analyst Ratings Changes

CLMT has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a report on Sunday. They set a "hold" rating on the stock. The Goldman Sachs Group cut their price target on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, March 21st.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.