Steel Partners (NYSE:SPLP) Shares Gap Down – Time to Sell?

Steel Partners Holdings L.P. (NYSE:SPLP)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $45.00, but opened at $43.7550. Steel Partners shares last traded at $43.6969, with a volume of 513 shares changing hands.

Steel Partners Stock Down 3.5%

The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The company has a market cap of $866.82 million, a PE ratio of 4.45 and a beta of 0.58. The company’s fifty day moving average is $42.23 and its 200-day moving average is $41.75.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Gamco Investors INC. ET AL lifted its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,648 shares of the conglomerate’s stock after purchasing an additional 3,276 shares during the period. Gamco Investors INC. ET AL owned 0.52% of Steel Partners worth $4,139,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 50.75% of the company’s stock.

Steel Partners Company Profile

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.