Steel Partners (NYSE:SPLP) Shares Gap Down – Here’s What Happened

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) gapped down before the market opened on Wednesday . The stock had previously closed at $42.95, but opened at $40.03. Steel Partners shares last traded at $41.08, with a volume of 515 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Steel Partners in a research note on Wednesday. They issued a “strong-buy” rating for the company.

Steel Partners Trading Down 3.8 %

The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $41.78 and its two-hundred day simple moving average is $40.56. The company has a market cap of $792.34 million, a price-to-earnings ratio of 4.24 and a beta of 1.38.

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP grew its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,877 shares of the conglomerate’s stock after purchasing an additional 10,377 shares during the period. De Lisle Partners LLP owned approximately 0.12% of Steel Partners worth $924,000 at the end of the most recent reporting period. 50.75% of the stock is owned by hedge funds and other institutional investors.

About Steel Partners

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.