Capital Product Partners L.P. (NASDAQ:CPLP) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Capital Product Partners L.P. (NASDAQ:CPLP - Free Report) by 24.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,101 shares of the shipping company's stock after selling 50,479 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.77% of Capital Product Partners worth $2,259,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in shares of Capital Product Partners by 18.0% in the 4th quarter. Bank of America Corp DE now owns 5,782 shares of the shipping company's stock worth $79,000 after purchasing an additional 882 shares in the last quarter. Geode Capital Management LLC bought a new position in shares of Capital Product Partners during the 2nd quarter worth $142,000. UBS Group AG grew its stake in shares of Capital Product Partners by 19.0% during the 3rd quarter. UBS Group AG now owns 10,795 shares of the shipping company's stock worth $144,000 after acquiring an additional 1,724 shares during the period. Creative Planning grew its stake in shares of Capital Product Partners by 23.0% during the 2nd quarter. Creative Planning now owns 21,420 shares of the shipping company's stock worth $325,000 after acquiring an additional 4,000 shares during the period. Finally, BNP Paribas Arbitrage SNC grew its stake in shares of Capital Product Partners by 24.2% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 24,581 shares of the shipping company's stock worth $337,000 after acquiring an additional 4,788 shares during the period.

Capital Product Partners Trading Down 0.2 %

Capital Product Partners stock traded down $0.03 during trading hours on Friday, reaching $16.90. The company had a trading volume of 13,414 shares, compared to its average volume of 21,451. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.99 and a quick ratio of 0.96. Capital Product Partners L.P. has a 12-month low of $12.02 and a 12-month high of $18.85. The firm has a market cap of $348.14 million, a price-to-earnings ratio of 7.79 and a beta of 0.86. The company has a 50-day moving average price of $17.51 and a 200 day moving average price of $15.80.

Capital Product Partners (NASDAQ:CPLP - Get Free Report) last posted its earnings results on Friday, February 2nd. The shipping company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.04). Capital Product Partners had a net margin of 13.09% and a return on equity of 7.78%. The business had revenue of $92.50 million for the quarter, compared to analysts' expectations of $93.32 million. During the same period last year, the firm posted $1.03 earnings per share. Equities analysts forecast that Capital Product Partners L.P. will post 1.79 earnings per share for the current year.

Capital Product Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were given a dividend of $0.15 per share. The ex-dividend date was Monday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 3.55%. Capital Product Partners's dividend payout ratio is presently 27.65%.

Analysts Set New Price Targets

Several brokerages have commented on CPLP. Stifel Nicolaus cut their target price on Capital Product Partners from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Friday. Jefferies Financial Group downgraded Capital Product Partners from a "buy" rating to a "hold" rating and dropped their price target for the company from $22.00 to $18.00 in a research report on Tuesday, February 27th. Finally, B. Riley lifted their price target on Capital Product Partners from $19.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, February 5th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Capital Product Partners has a consensus rating of "Moderate Buy" and an average target price of $20.67.

Capital Product Partners Profile

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.