Capital Product Partners L.P. (NASDAQ:CPLP) Short Interest Down 14.0% in May

Capital Product Partners L.P. (NASDAQ:CPLP) saw a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 37,400 shares, a decline of 14.0% from the May 15th total of 43,500 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 30,700 shares, the days-to-cover ratio is currently 1.2 days.

Capital Product Partners Price Performance

Shares of NASDAQ:CPLP traded up $0.41 during trading on Tuesday, hitting $17.95. 27,949 shares of the company’s stock were exchanged, compared to its average volume of 96,351. The business’s 50-day simple moving average is $16.88 and its 200 day simple moving average is $16.74. The company has a market cap of $994.25 million, a price-to-earnings ratio of 7.84 and a beta of 0.87. Capital Product Partners has a 52-week low of $12.70 and a 52-week high of $18.85. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.41 and a quick ratio of 1.20.

Capital Product Partners (NASDAQ:CPLP) last issued its earnings results on Tuesday, April 30th. The shipping company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $100.64 million during the quarter, compared to analyst estimates of $101.95 million. Capital Product Partners had a net margin of 18.51% and a return on equity of 6.30%. As a group, equities analysts predict that Capital Product Partners will post 1.58 EPS for the current year.

Capital Product Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, May 7th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Monday, May 6th. Capital Product Partners’s dividend payout ratio (DPR) is presently 26.20%.

Analyst Ratings Changes

A number of brokerages have commented on CPLP. Stifel Nicolaus decreased their price target on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Jefferies Financial Group downgraded shares of Capital Product Partners from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $18.00 in a report on Tuesday, February 27th. Finally, StockNews.com raised Capital Product Partners from a “hold” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.67.

Institutional Trading of Capital Product Partners

An institutional investor recently raised its position in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 187,697 shares of the shipping company’s stock after purchasing an additional 28,596 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.91% of Capital Product Partners worth $3,266,000 as of its most recent SEC filing.

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.