Oaktree Capital Management LP lowered its stake in Capital Product Partners L.P. (NASDAQ:CPLP) by 85.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,032 shares of the shipping company’s stock after selling 702,196 shares during the quarter. Oaktree Capital Management LP’s holdings in Capital Product Partners were worth $1,227,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Madrona Financial Services LLC bought a new stake in Capital Product Partners during the 4th quarter valued at $35,000. Acadian Asset Management LLC bought a new stake in Capital Product Partners during the 4th quarter valued at $32,000. Two Sigma Investments LP increased its stake in Capital Product Partners by 273.9% during the 4th quarter. Two Sigma Investments LP now owns 467,551 shares of the shipping company’s stock valued at $977,000 after purchasing an additional 342,493 shares in the last quarter. Wiley BROS. Aintree Capital LLC bought a new stake in Capital Product Partners during the 4th quarter valued at $75,000. Finally, Mraz Amerine & Associates Inc. increased its stake in Capital Product Partners by 109.8% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 23,118 shares of the shipping company’s stock valued at $53,000 after purchasing an additional 12,100 shares in the last quarter. Institutional investors own 28.97% of the company’s stock.
Shares of NASDAQ CPLP traded up $0.10 during trading on Friday, hitting $10.49. The stock had a trading volume of 119,808 shares, compared to its average volume of 104,891. Capital Product Partners L.P. has a 12 month low of $9.68 and a 12 month high of $22.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a market cap of $194.40 million, a price-to-earnings ratio of 14.18 and a beta of 0.99.
A number of analysts have commented on CPLP shares. B. Riley set a $14.00 price target on shares of Capital Product Partners and gave the company a “buy” rating in a research note on Tuesday, May 14th. Zacks Investment Research upgraded shares of Capital Product Partners from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Wednesday, April 3rd. Wells Fargo & Co restated a “hold” rating on shares of Capital Product Partners in a research note on Tuesday, May 21st. ValuEngine lowered shares of Capital Product Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Finally, BidaskClub lowered shares of Capital Product Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.88.
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Capital Product Partners Profile
Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.
Further Reading: Cost of Equity
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