Short Interest in Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Grows By 9.5%

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 909,000 shares, a growth of 9.5% from the March 15th total of 830,500 shares. Based on an average trading volume of 123,000 shares, the days-to-cover ratio is presently 7.4 days. Approximately 1.4% of the shares of the stock are short sold.

Analyst Ratings Changes

CLMT has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Calumet Specialty Products Partners from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a research note on Sunday. They issued a “hold” rating for the company.

Calumet Specialty Products Partners Price Performance

Shares of NASDAQ CLMT traded down $0.02 during midday trading on Tuesday, hitting $14.98. The stock had a trading volume of 240,231 shares, compared to its average volume of 120,176. The firm has a market cap of $1.20 billion, a P/E ratio of 18.96 and a beta of 1.76. Calumet Specialty Products Partners has a fifty-two week low of $11.91 and a fifty-two week high of $19.91. The company’s 50-day simple moving average is $15.51 and its 200 day simple moving average is $16.05.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, February 23rd. The oil and gas company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.40). The company had revenue of $976.50 million during the quarter, compared to analysts’ expectations of $856.71 million. During the same period last year, the firm posted ($0.21) EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts expect that Calumet Specialty Products Partners will post -0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stephen P. Mawer sold 15,037 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $17.87, for a total transaction of $268,711.19. Following the completion of the sale, the director now owns 172,610 shares in the company, valued at approximately $3,084,540.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.91% of the company’s stock.

Institutional Investors Weigh In On Calumet Specialty Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of CLMT. Tower Research Capital LLC TRC boosted its stake in Calumet Specialty Products Partners by 335.3% in the first quarter. Tower Research Capital LLC TRC now owns 1,689 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 1,301 shares during the last quarter. IFP Advisors Inc bought a new position in shares of Calumet Specialty Products Partners in the 2nd quarter worth $32,000. Worth Asset Management LLC bought a new position in shares of Calumet Specialty Products Partners in the 1st quarter worth $54,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Calumet Specialty Products Partners during the second quarter worth $76,000. Finally, Covestor Ltd bought a new stake in Calumet Specialty Products Partners in the first quarter valued at about $77,000. 34.41% of the stock is owned by institutional investors.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.