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

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $44.92, but opened at $42.25. Steel Partners shares last traded at $42.50, with a volume of 1,600 shares.

Steel Partners Stock Performance

The stock has a market cap of $849.92 million, a P/E ratio of 4.36 and a beta of 1.00. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $42.32 and a 200 day simple moving average of $40.97.

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gamco Investors INC. ET AL grew its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 4.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 101,372 shares of the conglomerate’s stock after purchasing an additional 4,508 shares during the period. Gamco Investors INC. ET AL owned approximately 0.53% of Steel Partners worth $4,157,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 50.75% of the company’s stock.

About Steel Partners

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.