Steel Partners (NYSE:SPLP) Shares Gap Down – Here’s What Happened

Steel Partners Holdings L.P. (NYSE:SPLP) gapped down before the market opened on Friday . The stock had previously closed at $43.99, but opened at $43.00. Steel Partners shares last traded at $43.00, with a volume of 546 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Steel Partners in a research report on Sunday, November 24th. They set a “strong-buy” rating on the stock.

Steel Partners Price Performance

The business has a 50-day moving average price of $40.58 and a two-hundred day moving average price of $38.97. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $788.49 million, a price-to-earnings ratio of 4.51 and a beta of 1.36.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SPLP. Gabelli Funds LLC raised its holdings in shares of Steel Partners by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after acquiring an additional 1,700 shares during the last quarter. De Lisle Partners LLP increased its holdings in Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares during the last quarter. 50.75% of the stock is owned by 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.