Short Interest in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Increases By 9.5%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 909,000 shares, an increase of 9.5% from the March 15th total of 830,500 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average trading volume of 123,000 shares, the short-interest ratio is presently 7.4 days.

Insider Activity at Calumet Specialty Products Partners

In related news, Director Stephen P. Mawer sold 15,037 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $17.87, for a total value of $268,711.19. Following the transaction, the director now owns 172,610 shares in the company, valued at $3,084,540.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On Calumet Specialty Products Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in shares of Calumet Specialty Products Partners by 335.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,301 shares during the period. IFP Advisors Inc bought a new position in shares of Calumet Specialty Products Partners during the 2nd quarter worth approximately $32,000. Worth Asset Management LLC acquired a new stake in Calumet Specialty Products Partners during the 1st quarter worth approximately $54,000. BNP Paribas Arbitrage SA acquired a new stake in Calumet Specialty Products Partners during the 2nd quarter worth approximately $76,000. Finally, Covestor Ltd acquired a new stake in Calumet Specialty Products Partners during the 1st quarter worth approximately $77,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

Calumet Specialty Products Partners Trading Down 0.1 %

NASDAQ:CLMT opened at $14.98 on Wednesday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 18.96 and a beta of 1.76. The business’s 50-day moving average price is $15.51 and its two-hundred day moving average price is $16.05. Calumet Specialty Products Partners has a 1-year low of $11.91 and a 1-year high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.40). The firm had revenue of $976.50 million during the quarter, compared to the consensus estimate of $856.71 million. Calumet Specialty Products Partners’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.21) earnings per share. Sell-side analysts predict that Calumet Specialty Products Partners will post -0.52 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com assumed coverage on Calumet Specialty Products Partners in a research note on Sunday. They issued a “hold” rating on the stock. The Goldman Sachs Group cut their target price on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, March 21st.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.