Capital Product Partners L.P. (NASDAQ:CPLP) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 600,377 shares, a decline of 51.2% from the January 15th total of 1,229,759 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 844,957 shares, the short-interest ratio is currently 0.7 days.
A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Capital Product Partners by 113.6% in the 4th quarter. Geode Capital Management LLC now owns 279,574 shares of the shipping company’s stock worth $584,000 after purchasing an additional 148,676 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in Capital Product Partners by 100.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,532,859 shares of the shipping company’s stock worth $9,474,000 after purchasing an additional 2,272,183 shares in the last quarter. Acadian Asset Management LLC bought a new position in Capital Product Partners in the 4th quarter worth about $32,000. Wiley BROS. Aintree Capital LLC bought a new position in Capital Product Partners in the 4th quarter worth about $75,000. Finally, Group One Trading L.P. bought a new position in Capital Product Partners in the 4th quarter worth about $25,000. Institutional investors own 16.83% of the company’s stock.
A number of analysts have recently commented on CPLP shares. Zacks Investment Research cut shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Thursday, October 25th. TheStreet cut shares of Capital Product Partners from a “c” rating to a “d+” rating in a report on Wednesday, October 31st. ValuEngine cut shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. BidaskClub cut shares of Capital Product Partners from a “hold” rating to a “sell” rating in a research note on Saturday, December 1st. Finally, B. Riley started coverage on shares of Capital Product Partners in a research note on Tuesday, December 4th. They issued a “buy” rating and a $2.75 price target on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $2.94.
Shares of Capital Product Partners stock opened at $2.28 on Thursday. The stock has a market capitalization of $295.68 million, a P/E ratio of 16.29 and a beta of 1.11. Capital Product Partners has a 1 year low of $2.05 and a 1 year high of $3.31. The company has a current ratio of 0.56, a quick ratio of 0.49 and a debt-to-equity ratio of 0.44.
Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings results on Thursday, January 31st. The shipping company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The company had revenue of $61.51 million for the quarter, compared to analysts’ expectations of $59.64 million. Capital Product Partners had a net margin of 0.13% and a return on equity of 3.24%. As a group, analysts expect that Capital Product Partners will post 0.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Tuesday, February 5th will be paid a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 7.89%. The ex-dividend date is Monday, February 4th. Capital Product Partners’s payout ratio is 128.57%.
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About Capital Product Partners
Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, including crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel; edible oils; chemicals, such as ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.
Read More: Earnings Per Share
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