Steel Partners (NYSE:SPLP) Shares Gap Up – Should You Buy?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) gapped up before the market opened on Monday . The stock had previously closed at $43.25, but opened at $47.00. Steel Partners shares last traded at $47.00, with a volume of 218 shares trading hands.

Steel Partners Stock Up 2.4%

The business’s 50 day moving average is $42.18 and its 200 day moving average is $41.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The stock has a market cap of $838.28 million, a price-to-earnings ratio of 4.31 and a beta of 0.58.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gamco Investors INC. ET AL increased its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,648 shares of the conglomerate’s stock after purchasing an additional 3,276 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.52% of Steel Partners worth $4,139,000 as of its most recent filing with the SEC. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

About Steel Partners

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.