Martin Midstream Partners L.P. (NASDAQ:MMLP) Sees Large Decrease in Short Interest

Martin Midstream Partners L.P. (NASDAQ:MMLP) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 56,820 shares, a drop of 36.8% from the May 14th total of 89,898 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 35,232 shares, the short-interest ratio is presently 1.6 days.

Institutional Investors Weigh In On Martin Midstream Partners

A number of institutional investors and hedge funds have recently bought and sold shares of MMLP. Bank of America Corp DE raised its position in Martin Midstream Partners by 216.0% in the 2nd quarter. Bank of America Corp DE now owns 581,020 shares of the pipeline company’s stock valued at $1,714,000 after buying an additional 397,163 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Martin Midstream Partners by 221.2% in the 3rd quarter. Artisan Partners Limited Partnership now owns 107,339 shares of the pipeline company’s stock valued at $328,000 after buying an additional 73,926 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Martin Midstream Partners in the third quarter valued at approximately $41,000. Susquehanna International Group LLP grew its holdings in shares of Martin Midstream Partners by 298.9% in the third quarter. Susquehanna International Group LLP now owns 44,126 shares of the pipeline company’s stock valued at $135,000 after acquiring an additional 33,064 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Martin Midstream Partners by 139.3% in the fourth quarter. Jane Street Group LLC now owns 24,068 shares of the pipeline company’s stock valued at $63,000 after acquiring an additional 14,010 shares in the last quarter. 34.90% of the stock is owned by hedge funds and other institutional investors.

Martin Midstream Partners Stock Performance

Shares of Martin Midstream Partners stock traded down $0.02 during trading hours on Wednesday, reaching $2.62. The company’s stock had a trading volume of 1,276 shares, compared to its average volume of 21,394. Martin Midstream Partners has a one year low of $2.21 and a one year high of $3.54. The company has a market capitalization of $102.53 million, a P/E ratio of -5.14 and a beta of 0.51. The stock’s fifty day simple moving average is $2.61 and its two-hundred day simple moving average is $2.69.

Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, April 22nd. The pipeline company reported ($0.17) EPS for the quarter. The company had revenue of $187.67 million during the quarter.

Martin Midstream Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 8th. Martin Midstream Partners’s dividend payout ratio is presently -3.92%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MMLP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Martin Midstream Partners in a research note on Friday, May 29th. Stifel Nicolaus dropped their price objective on shares of Martin Midstream Partners from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, March 12th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $3.00.

About Martin Midstream Partners

Martin Midstream Partners L.P. is a publicly traded midstream energy partnership that provides storage, transportation and distribution services for petroleum and chemical products. The company’s operations encompass bulk liquid terminals, marine transportation services and handling facilities designed to support a variety of feedstocks and refined products. Through its network of terminals and pipelines, Martin Midstream serves refineries, petrochemical plants and other industrial customers, offering solutions that help optimize logistics and maintain supply chain reliability.

With core assets located along the U.S.