Capital Product Partners L.P. (CPLP) Sees Large Volume Increase
Shares of Capital Product Partners L.P. (NASDAQ:CPLP) saw unusually-strong trading volume on Monday . Approximately 2,019,142 shares traded hands during mid-day trading, an increase of 149% from the previous session’s volume of 812,237 shares.The stock last traded at $3.68 and had previously closed at $3.41.
CPLP has been the topic of several research reports. Zacks Investment Research raised shares of Capital Product Partners L.P. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. Evercore ISI cut shares of Capital Product Partners L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.42.
The firm has a market capitalization of $461.41 million and a P/E ratio of 10.6317. The stock has a 50-day moving average of $3.04 and a 200 day moving average of $3.28.
Capital Product Partners L.P. (NASDAQ:CPLP) last released its quarterly earnings data on Tuesday, April 26th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The business earned $58 million during the quarter, compared to analyst estimates of $60.51 million. Equities research analysts anticipate that Capital Product Partners L.P. will post $0.38 earnings per share for the current year.
A number of hedge funds and institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its stake in shares of Capital Product Partners L.P. by 2.3% in the fourth quarter. First Trust Advisors LP now owns 1,586,180 shares of the company’s stock worth $8,756,000 after buying an additional 35,801 shares during the period. Penserra Capital Management LLC bought a new stake in shares of Capital Product Partners L.P. during the fourth quarter worth about $5,767,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Capital Product Partners L.P. by 508.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 205,505 shares of the company’s stock worth $1,134,000 after buying an additional 171,710 shares during the period.
Capital Product Partners L.P. is an international owner of modern tanker, container and drybulk vessels. The Partnership owns approximately 35 vessels, including twenty modern Medium Range (MR) product tankers, four Suezmax crude oil tankers, 10 post panamax container vessels and one Capesize bulk carrier.
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