Capital Product Partners L.P. (NASDAQ:CPLP) Short Interest Up 7.2% in March

Capital Product Partners L.P. (NASDAQ:CPLPGet Free Report) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 58,000 shares, a growth of 7.2% from the February 29th total of 54,100 shares. Based on an average trading volume of 154,500 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Capital Product Partners

A number of institutional investors have recently added to or reduced their stakes in CPLP. Goldman Sachs Group Inc. increased its position in shares of Capital Product Partners by 597.0% during the first quarter. Goldman Sachs Group Inc. now owns 277,121 shares of the shipping company’s stock worth $5,052,000 after acquiring an additional 237,362 shares during the period. State Street Corp acquired a new position in shares of Capital Product Partners during the third quarter worth about $857,000. BNP Paribas Arbitrage SA increased its stake in shares of Capital Product Partners by 2,886,050.0% during the first quarter. BNP Paribas Arbitrage SA now owns 57,723 shares of the shipping company’s stock worth $1,052,000 after buying an additional 57,721 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 acquiring an additional 20,746 shares in the last quarter. Finally, Wolverine Trading LLC purchased a new position in Capital Product Partners in the fourth quarter worth approximately $270,000.

Analyst Upgrades and Downgrades

CPLP has been the topic of a number of analyst reports. Jefferies Financial Group cut shares of Capital Product Partners from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $18.00 in a research report on Tuesday, February 27th. B. Riley increased their price objective on shares of Capital Product Partners from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Read Our Latest Report on Capital Product Partners

Capital Product Partners Stock Performance

CPLP traded up $0.12 on Wednesday, reaching $17.24. 1,012 shares of the stock were exchanged, compared to its average volume of 152,017. Capital Product Partners has a fifty-two week low of $12.02 and a fifty-two week high of $18.85. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.99 and a quick ratio of 0.96. The firm has a market capitalization of $355.14 million, a PE ratio of 7.89 and a beta of 0.86. The company’s 50-day moving average price is $17.82 and its 200 day moving average price is $15.57.

Capital Product Partners (NASDAQ:CPLPGet 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). The firm had revenue of $92.50 million during the quarter, compared to analyst estimates of $93.32 million. Capital Product Partners had a net margin of 13.09% and a return on equity of 7.78%. During the same quarter in the prior year, the firm earned $1.03 earnings per share. As a group, sell-side analysts forecast that Capital Product Partners will post 1.79 EPS for the current fiscal year.

Capital Product Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, February 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, February 5th. Capital Product Partners’s payout ratio is 27.65%.

Capital Product Partners Company Profile

(Get Free Report)

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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