Steel Partners (NYSE:SPLP) Shares Gap Down – What’s Next?

Steel Partners Holdings L.P. (NYSE:SPLP) shares gapped down prior to trading on Thursday . The stock had previously closed at $44.92, but opened at $42.25. Steel Partners shares last traded at $42.50, with a volume of 1,600 shares changing hands.

Steel Partners Stock Down 0.6%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The firm has a 50 day simple moving average of $42.33 and a two-hundred day simple moving average of $41.07. The stock has a market cap of $844.92 million, a P/E ratio of 4.33 and a beta of 1.00.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gamco Investors INC. ET AL increased its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,372 shares of the conglomerate’s stock after acquiring an additional 4,508 shares during the period. Gamco Investors INC. ET AL owned approximately 0.53% of Steel Partners worth $4,157,000 at the end of the most recent reporting period. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

Steel Partners Company Profile

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.