Capital Product Partners L.P. (NASDAQ:CPLP) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in Capital Product Partners L.P. (NASDAQ:CPLP) by 307.4% during the first quarter, Holdings Channel reports. The institutional investor owned 1,117,635 shares of the shipping company’s stock after buying an additional 843,300 shares during the period. Renaissance Technologies LLC’s holdings in Capital Product Partners L.P. were worth $3,990,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Stifel Financial Corp increased its position in shares of Capital Product Partners L.P. by 31.4% in the first quarter. Stifel Financial Corp now owns 28,050 shares of the shipping company’s stock worth $100,000 after buying an additional 6,696 shares in the last quarter. Nine Chapters Capital Management LLC bought a new position in shares of Capital Product Partners L.P. during the first quarter worth approximately $117,000. Acadian Asset Management LLC bought a new position in shares of Capital Product Partners L.P. during the first quarter worth approximately $220,000. Private Advisor Group LLC increased its position in shares of Capital Product Partners L.P. by 174.8% in the first quarter. Private Advisor Group LLC now owns 76,901 shares of the shipping company’s stock worth $265,000 after buying an additional 48,918 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Capital Product Partners L.P. by 5.0% in the first quarter. Wells Fargo & Company MN now owns 94,464 shares of the shipping company’s stock worth $337,000 after buying an additional 4,498 shares in the last quarter. Institutional investors and hedge funds own 18.67% of the company’s stock.

Shares of Capital Product Partners L.P. (NASDAQ CPLP) traded up 0.56% during trading on Tuesday, reaching $3.56. 35,640 shares of the company’s stock were exchanged. The company has a market capitalization of $440.13 million, a P/E ratio of 12.15 and a beta of 1.63. Capital Product Partners L.P. has a 12-month low of $2.73 and a 12-month high of $4.00.

Capital Product Partners L.P. (NASDAQ:CPLP) last released its quarterly earnings results on Friday, July 28th. The shipping company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $62.06 million during the quarter, compared to analysts’ expectations of $59.47 million. Capital Product Partners L.P. had a net margin of 18.20% and a return on equity of 4.95%. Analysts anticipate that Capital Product Partners L.P. will post $0.27 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Thursday, August 3rd will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 9.04%. The ex-dividend date of this dividend is Tuesday, August 1st. Capital Product Partners L.P.’s dividend payout ratio (DPR) is 106.67%.

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A number of brokerages have commented on CPLP. UBS AG restated a “neutral” rating and issued a $4.00 target price (down from $4.50) on shares of Capital Product Partners L.P. in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, TheStreet downgraded shares of Capital Product Partners L.P. from a “b-” rating to a “c” rating in a research note on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $4.40.

Capital Product Partners L.P. Company Profile

Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.

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Institutional Ownership by Quarter for Capital Product Partners L.P. (NASDAQ:CPLP)

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