Capital Product Partners L.P. (NASDAQ:CPLP) Short Interest Update

Capital Product Partners L.P. (NASDAQ:CPLP) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 40,300 shares, an increase of 7.8% from the May 31st total of 37,400 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 26,200 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Investors Weigh In On Capital Product Partners

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

Capital Product Partners Stock Performance

NASDAQ:CPLP traded down $0.23 during trading hours on Tuesday, reaching $16.95. 14,465 shares of the stock were exchanged, compared to its average volume of 90,531. The stock has a market capitalization of $938.86 million, a P/E ratio of 7.50 and a beta of 0.87. The firm has a 50 day simple moving average of $16.98 and a 200-day simple moving average of $16.97. The company has a quick ratio of 1.20, a current ratio of 1.41 and a debt-to-equity ratio of 1.48. Capital Product Partners has a 52 week low of $12.70 and a 52 week high of $18.85.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Tuesday, April 30th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Capital Product Partners had a return on equity of 6.30% and a net margin of 18.51%. The firm had revenue of $100.64 million for the quarter, compared to analysts’ expectations of $101.95 million. As a group, sell-side analysts forecast that Capital Product Partners will post 1.58 earnings per share for the current fiscal year.

Capital Product Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, May 6th. Capital Product Partners’s dividend payout ratio (DPR) is presently 26.20%.

Analysts Set New Price Targets

Several research firms have recently commented on CPLP. StockNews.com upgraded Capital Product Partners from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Stifel Nicolaus reduced their price objective on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

About Capital Product Partners

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.