Short Interest in Capital Product Partners L.P. (NASDAQ:CPLP) Declines By 5.5%

Capital Product Partners L.P. (NASDAQ:CPLP) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 54,800 shares, a drop of 5.5% from the March 15th total of 58,000 shares. Based on an average trading volume of 124,300 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.6% of the company’s stock are short sold.

Capital Product Partners Stock Down 2.0 %

CPLP stock opened at $16.15 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 2.27. Capital Product Partners has a twelve month low of $12.02 and a twelve month high of $18.85. The company’s 50 day moving average is $17.62 and its two-hundred day moving average is $15.75. The stock has a market cap of $332.69 million, a P/E ratio of 7.44 and a beta of 0.86.

Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings results on Friday, February 2nd. The shipping company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.04). Capital Product Partners had a net margin of 13.09% and a return on equity of 7.78%. The business had revenue of $92.50 million during the quarter, compared to analysts’ expectations of $93.32 million. During the same quarter last year, the company earned $1.03 EPS. Research analysts expect that Capital Product Partners will post 1.79 earnings per share for the current fiscal year.

Capital Product Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were given a $0.15 dividend. The ex-dividend date was Monday, February 5th. This represents a $0.60 annualized dividend and a yield of 3.72%. Capital Product Partners’s dividend payout ratio (DPR) is 27.65%.

Hedge Funds Weigh In On Capital Product Partners

Several institutional investors have recently bought and sold shares of the company. Aristotle Capital Boston LLC increased its stake in Capital Product Partners by 3.4% in the 1st quarter. Aristotle Capital Boston LLC now owns 472,009 shares of the shipping company’s stock valued at $6,334,000 after buying an additional 15,315 shares during the period. Goldman Sachs Group Inc. increased its stake in Capital Product Partners by 597.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 277,121 shares of the shipping company’s stock valued at $5,052,000 after buying an additional 237,362 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Capital Product Partners by 11.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,580 shares of the shipping company’s stock valued at $2,936,000 after buying an additional 20,746 shares during the period. Morgan Stanley increased its stake in Capital Product Partners by 15.2% in the 4th quarter. Morgan Stanley now owns 87,217 shares of the shipping company’s stock valued at $1,191,000 after buying an additional 11,512 shares during the period. Finally, Sei Investments Co. increased its stake in Capital Product Partners by 6.7% in the 3rd quarter. Sei Investments Co. now owns 74,920 shares of the shipping company’s stock valued at $1,050,000 after buying an additional 4,677 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPLP. B. Riley raised their target price on shares of Capital Product Partners from $19.00 to $24.00 and gave the company a “buy” rating in a report on Monday, February 5th. Jefferies Financial Group cut shares of Capital Product Partners from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $18.00 in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Capital Product Partners Company Profile

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.