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

Capital Product Partners L.P. (NASDAQ:CPLP) was the target of a significant drop in short interest during 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 daily volume of 124,300 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.6% of the company’s shares are short sold.

Capital Product Partners Stock Up 2.9 %

Shares of Capital Product Partners stock opened at $16.62 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.99 and a debt-to-equity ratio of 2.27. The business has a 50-day moving average price of $17.62 and a 200 day moving average price of $15.75. Capital Product Partners has a fifty-two week low of $12.02 and a fifty-two week high of $18.85. The firm has a market cap of $342.37 million, a P/E ratio of 7.66 and a beta of 0.86.

Capital Product Partners (NASDAQ:CPLP) last posted its quarterly earnings results on Friday, February 2nd. The shipping company reported $0.61 earnings per share (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 company had revenue of $92.50 million during the quarter, compared to the consensus estimate of $93.32 million. During the same period in the prior year, the company posted $1.03 EPS. On average, sell-side analysts forecast that Capital Product Partners will post 1.79 earnings per share for the current fiscal year.

Capital Product Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were issued 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 Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group cut Capital Product Partners from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $22.00 to $18.00 in a report on Tuesday, February 27th. B. Riley lifted their target price on Capital Product Partners from $19.00 to $24.00 and gave the company a “buy” rating in a report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Institutional Investors Weigh In On Capital Product Partners

A number of large investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in Capital Product Partners by 4.9% in the first quarter. Royal Bank of Canada now owns 18,477 shares of the shipping company’s stock worth $337,000 after purchasing an additional 859 shares in the last quarter. Bank of America Corp DE boosted its holdings in Capital Product Partners by 18.0% during the fourth quarter. Bank of America Corp DE now owns 5,782 shares of the shipping company’s stock valued at $79,000 after acquiring an additional 882 shares during the period. UBS Group AG boosted its holdings in Capital Product Partners by 19.0% during the third quarter. UBS Group AG now owns 10,795 shares of the shipping company’s stock valued at $144,000 after acquiring an additional 1,724 shares during the period. Sei Investments Co. boosted its holdings in Capital Product Partners by 2.6% during the first quarter. Sei Investments Co. now owns 70,019 shares of the shipping company’s stock valued at $938,000 after acquiring an additional 1,785 shares during the period. Finally, Creative Planning boosted its holdings in Capital Product Partners by 23.0% during the second quarter. Creative Planning now owns 21,420 shares of the shipping company’s stock valued at $325,000 after acquiring an additional 4,000 shares during the period.

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.