Steel Partners (NYSE:SPLP) Shares Gap Down to $38.88

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $38.88, but opened at $37.50. Steel Partners shares last traded at $37.50, with a volume of 400 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Steel Partners in a research note on Saturday, April 6th. They issued a "strong-buy" rating for the company.

Steel Partners Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.17 and a current ratio of 1.27. The company has a market cap of $792.50 million, a P/E ratio of 5.96 and a beta of 1.26. The firm has a 50 day moving average price of $37.96 and a two-hundred day moving average price of $10,139.88.

Steel Partners (NYSE:SPLP - Get Free Report) last issued its earnings results on Friday, March 8th. The conglomerate reported $1.75 EPS for the quarter. Steel Partners had a return on equity of 16.41% and a net margin of 7.92%. The business had revenue of $466.91 million during the quarter.

Institutional Trading of Steel Partners

Several institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC raised its holdings in shares of Steel Partners by 2.2% in the 3rd quarter. HighTower Advisors LLC now owns 24,065 shares of the conglomerate's stock valued at $1,023,000 after acquiring an additional 522 shares in the last quarter. Teton Advisors Inc. raised its holdings in shares of Steel Partners by 4.1% in the 4th quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate's stock valued at $408,000 after acquiring an additional 400 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Steel Partners in the 1st quarter valued at about $287,000. Finally, BNP Paribas Arbitrage SA purchased a new position in shares of Steel Partners during the 1st quarter valued at about $122,000. Hedge funds and other institutional investors own 50.75% of the company's stock.

Steel Partners Company Profile

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.