Capital Product Partners L.P. (NASDAQ:CPLP) Short Interest Update

Capital Product Partners L.P. (NASDAQ:CPLP) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 54,800 shares, a drop of 5.5% from the March 15th total of 58,000 shares. Based on an average daily volume of 124,300 shares, the short-interest ratio is currently 0.4 days. Currently, 0.6% of the shares of the stock are short sold.

Capital Product Partners Trading Up 0.7 %

Shares of CPLP stock opened at $16.74 on Thursday. The business’s fifty day moving average price is $17.59 and its 200 day moving average price is $15.77. Capital Product Partners has a 1-year low of $12.02 and a 1-year high of $18.85. The firm has a market capitalization of $344.84 million, a PE ratio of 7.71 and a beta of 0.86. 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 (NASDAQ:CPLP) last posted its quarterly earnings data on Friday, February 2nd. The shipping company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). Capital Product Partners had a return on equity of 7.78% and a net margin of 13.09%. The company had revenue of $92.50 million for the quarter, compared to analysts’ expectations of $93.32 million. During the same quarter in the prior year, the business posted $1.03 EPS. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, February 5th. This represents a $0.60 annualized dividend and a dividend yield of 3.58%. Capital Product Partners’s payout ratio is currently 27.65%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CPLP. Jefferies Financial Group lowered Capital Product Partners from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $18.00 in a report on Tuesday, February 27th. B. Riley lifted their target price 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Institutional Investors Weigh In On Capital Product Partners

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its position in Capital Product Partners by 4.9% during the 1st quarter. Royal Bank of Canada now owns 18,477 shares of the shipping company’s stock valued at $337,000 after purchasing an additional 859 shares during the period. Bank of America Corp DE raised its position in Capital Product Partners by 18.0% during the fourth quarter. Bank of America Corp DE now owns 5,782 shares of the shipping company’s stock valued at $79,000 after buying an additional 882 shares during the period. UBS Group AG raised its position in Capital Product Partners by 19.0% during the third quarter. UBS Group AG now owns 10,795 shares of the shipping company’s stock valued at $144,000 after buying an additional 1,724 shares during the period. Sei Investments Co. raised its position in Capital Product Partners by 2.6% during the first quarter. Sei Investments Co. now owns 70,019 shares of the shipping company’s stock valued at $938,000 after buying an additional 1,785 shares during the period. Finally, Creative Planning grew its stake in Capital Product Partners by 23.0% in the second quarter. Creative Planning now owns 21,420 shares of the shipping company’s stock valued at $325,000 after purchasing an additional 4,000 shares in the last quarter.

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.