Oaktree Capital Management LP lifted its stake in shares of StoneMor Partners L.P. (NYSE:STON) by 22.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,525,000 shares of the company’s stock after buying an additional 275,000 shares during the quarter. Oaktree Capital Management LP owned about 4.02% of StoneMor Partners worth $9,943,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Csenge Advisory Group acquired a new stake in shares of StoneMor Partners during the 3rd quarter worth approximately $249,000. Raymond James Financial Services Advisors Inc. grew its position in shares of StoneMor Partners by 0.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 129,303 shares of the company’s stock worth $1,222,000 after buying an additional 842 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of StoneMor Partners by 1,652.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,246 shares of the company’s stock worth $153,000 after buying an additional 15,319 shares during the period. Virtu KCG Holdings LLC grew its position in shares of StoneMor Partners by 5.3% during the 2nd quarter. Virtu KCG Holdings LLC now owns 24,718 shares of the company’s stock worth $234,000 after buying an additional 1,236 shares during the period. Finally, Axar Capital Management L.P. acquired a new stake in StoneMor Partners in the 2nd quarter valued at $15,825,000. 29.42% of the stock is owned by institutional investors.
StoneMor Partners L.P. (STON) traded up $0.07 during midday trading on Thursday, reaching $6.99. 179,900 shares of the company traded hands, compared to its average volume of 275,675. StoneMor Partners L.P. has a twelve month low of $5.52 and a twelve month high of $11.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 2.56 and a quick ratio of 2.56.
Separately, BidaskClub raised shares of StoneMor Partners from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold”.
StoneMor Partners Profile
StoneMor Partners L.P. owns and operates cemeteries and funeral homes. The Company operates through two segments: Cemetery Operations and Funeral Homes. Its Cemetery Operations segment sells interment rights, caskets, burial vaults, cremation niches, markers and other cemetery related merchandise. Its Funeral Homes segment offers a range of services, including family consultation, final expense insurance products, the removal and preparation of remains, provision of caskets and related funeral merchandise, the use of funeral home facilities for visitation, worship and performance of funeral services, and transportation services.
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