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

Capital Product Partners L.P. (NASDAQ:CPLP) was the recipient of a large drop in short interest in the month of 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 short-interest ratio is currently 0.4 days. Approximately 0.6% of the shares of the stock are short sold.

Capital Product Partners Trading Up 2.9 %

Shares of Capital Product Partners stock opened at $16.62 on Wednesday. The firm has a market capitalization of $342.37 million, a PE ratio of 7.66 and a beta of 0.86. Capital Product Partners has a twelve month low of $12.02 and a twelve month high of $18.85. The firm’s 50-day moving average price is $17.62 and its 200 day moving average price is $15.75. 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 (NASDAQ:CPLP) last issued its quarterly earnings results on Friday, February 2nd. The shipping company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). The company had revenue of $92.50 million during the quarter, compared to analysts’ expectations of $93.32 million. Capital Product Partners had a net margin of 13.09% and a return on equity of 7.78%. During the same period in the prior year, the business posted $1.03 earnings per share. On average, sell-side analysts predict that Capital Product Partners will post 1.79 EPS for the current fiscal year.

Capital Product Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Monday, February 5th. Capital Product Partners’s dividend payout ratio is presently 27.65%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. B. Riley raised their target price on Capital Product Partners from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Jefferies Financial Group cut Capital Product Partners from a “buy” rating to a “hold” rating and dropped their target price for the company from $22.00 to $18.00 in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $2,936,000 after purchasing an additional 20,746 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Capital Product Partners by 2,886,050.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 57,723 shares of the shipping company’s stock worth $1,052,000 after purchasing an additional 57,721 shares in the last quarter. Sei Investments Co. lifted 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 worth $1,050,000 after purchasing an additional 4,677 shares in the last quarter. State Street Corp purchased a new position in Capital Product Partners in the 3rd quarter worth approximately $857,000. Finally, BNP Paribas Arbitrage SNC lifted its stake in Capital Product Partners by 24.2% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 24,581 shares of the shipping company’s stock worth $337,000 after purchasing an additional 4,788 shares in the last quarter.

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.