Capital Product Partners L.P. (NASDAQ:CPLP – Get Free Report) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 46,600 shares, a drop of 10.6% from the December 15th total of 52,100 shares. Based on an average daily volume of 81,700 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.3% of the shares of the company are short sold.
Hedge Funds Weigh In On Capital Product Partners
A number of large investors have recently modified their holdings of CPLP. Donald Smith & CO. Inc. raised its stake in Capital Product Partners by 2.7% in the second quarter. Donald Smith & CO. Inc. now owns 1,793,009 shares of the shipping company’s stock valued at $24,600,000 after purchasing an additional 46,692 shares in the last quarter. Aristotle Capital Boston LLC raised its stake in Capital Product Partners by 1.9% in the second quarter. Aristotle Capital Boston LLC now owns 480,828 shares of the shipping company’s stock valued at $6,640,000 after purchasing an additional 8,819 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Capital Product Partners by 597.0% in the first quarter. Goldman Sachs Group Inc. now owns 277,121 shares of the shipping company’s stock valued at $5,052,000 after purchasing an additional 237,362 shares in the last quarter. Pale Fire Capital SE purchased a new stake in Capital Product Partners in the second quarter valued at approximately $3,237,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Capital Product Partners by 11.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,580 shares of the shipping company’s stock valued at $2,936,000 after purchasing an additional 20,746 shares in the last quarter. 38.64% of the stock is currently owned by institutional investors.
Capital Product Partners Price Performance
CPLP stock opened at $17.73 on Thursday. The firm has a 50 day moving average of $14.32 and a 200-day moving average of $14.37. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 2.27. Capital Product Partners has a 12 month low of $11.93 and a 12 month high of $17.80. The firm has a market capitalization of $365.24 million, a P/E ratio of 6.52 and a beta of 0.87.
Capital Product Partners Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Monday, November 6th were given a $0.15 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.38%. Capital Product Partners’s dividend payout ratio (DPR) is currently 22.06%.
Analysts Set New Price Targets
A number of brokerages have weighed in on CPLP. Stifel Nicolaus increased their target price on shares of Capital Product Partners from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, November 14th. StockNews.com began coverage on shares of Capital Product Partners in a research report on Thursday, October 5th. They set a “hold” rating for the company.
Capital Product Partners Company 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.
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