Steel Partners (NYSE:SPLP) Shares Gap Down – Should You Sell?

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $43.99, but opened at $43.00. Steel Partners shares last traded at $43.00, with a volume of 546 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Steel Partners in a research report on Sunday, November 24th. They issued a “strong-buy” rating on the stock.

Steel Partners Stock Performance

The firm has a 50 day moving average of $40.66 and a two-hundred day moving average of $39.02. The stock has a market cap of $863.10 million, a P/E ratio of 4.62 and a beta of 1.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Institutional Trading of Steel Partners

A number of hedge funds have recently modified their holdings of SPLP. De Lisle Partners LLP raised its holdings in shares of Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after buying an additional 10,377 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares in the last quarter. Finally, Gabelli Funds LLC increased its holdings in Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors own 50.75% of the company’s stock.

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.