Capital Product Partners L.P. (CPLP) Position Increased by Global X Management Co. LLC

Global X Management Co. LLC boosted its stake in shares of Capital Product Partners L.P. (NASDAQ:CPLP) by 22.9% during the second quarter, Holdings Channel reports. The fund owned 2,229,685 shares of the shipping company’s stock after buying an additional 414,798 shares during the period. Global X Management Co. LLC’s holdings in Capital Product Partners L.P. were worth $7,581,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Stifel Financial Corp increased its stake in shares of Capital Product Partners L.P. by 31.4% in the first quarter. Stifel Financial Corp now owns 28,050 shares of the shipping company’s stock valued at $100,000 after buying an additional 6,696 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Capital Product Partners L.P. during the second quarter valued at $111,000. Nine Chapters Capital Management LLC acquired a new stake in shares of Capital Product Partners L.P. during the first quarter valued at $117,000. Sanders Morris Harris LLC increased its stake in shares of Capital Product Partners L.P. by 74.9% in the second quarter. Sanders Morris Harris LLC now owns 46,700 shares of the shipping company’s stock valued at $159,000 after buying an additional 20,000 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Capital Product Partners L.P. during the first quarter valued at $220,000. Institutional investors own 18.67% of the company’s stock.

Shares of Capital Product Partners L.P. (NASDAQ:CPLP) opened at 3.46 on Friday. Capital Product Partners L.P. has a 12 month low of $2.73 and a 12 month high of $4.00. The firm has a 50 day moving average of $3.66 and a 200-day moving average of $3.48. The stock has a market capitalization of $427.76 million, a P/E ratio of 11.81 and a beta of 1.63.

Capital Product Partners L.P. (NASDAQ:CPLP) last posted its quarterly earnings data on Friday, July 28th. The shipping company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $62.06 million for the quarter, compared to analysts’ expectations of $59.47 million. Capital Product Partners L.P. had a net margin of 18.20% and a return on equity of 4.95%. Analysts forecast that Capital Product Partners L.P. will post $0.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Thursday, August 3rd will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, August 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 9.25%. Capital Product Partners L.P.’s dividend payout ratio is currently 106.67%.

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Several brokerages recently weighed in on CPLP. UBS AG reaffirmed a “neutral” rating and set a $4.00 target price (down from $4.50) on shares of Capital Product Partners L.P. in a research note on Wednesday. BidaskClub downgraded shares of Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, TheStreet downgraded shares of Capital Product Partners L.P. from a “b-” rating to a “c” rating in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $4.40.

About Capital Product Partners L.P.

Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.

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Institutional Ownership by Quarter for Capital Product Partners L.P. (NASDAQ:CPLP)

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