Capital Product Partners L.P. (CPLP) Position Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in Capital Product Partners L.P. (NASDAQ:CPLP) by 210.9% during the third quarter, HoldingsChannel.com reports. The firm owned 101,677 shares of the shipping company’s stock after acquiring an additional 68,970 shares during the period. Russell Investments Group Ltd.’s holdings in Capital Product Partners were worth $356,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CPLP. Arrowstreet Capital Limited Partnership bought a new position in shares of Capital Product Partners in the second quarter worth $3,202,000. Goodman Financial Corp bought a new position in shares of Capital Product Partners in the third quarter worth $2,768,000. Susquehanna International Group LLP increased its position in shares of Capital Product Partners by 354.2% in the second quarter. Susquehanna International Group LLP now owns 146,220 shares of the shipping company’s stock worth $497,000 after purchasing an additional 114,028 shares during the period. JPMorgan Chase & Co. increased its position in shares of Capital Product Partners by 10.7% in the second quarter. JPMorgan Chase & Co. now owns 927,069 shares of the shipping company’s stock worth $3,152,000 after purchasing an additional 89,279 shares during the period. Finally, Captrust Financial Advisors bought a new position in Capital Product Partners in the second quarter valued at about $237,000. Institutional investors own 19.24% of the company’s stock.

Capital Product Partners L.P. (NASDAQ:CPLP) opened at $3.51 on Friday. Capital Product Partners L.P. has a 12-month low of $3.10 and a 12-month high of $4.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.81 and a quick ratio of 0.79. The stock has a market capitalization of $474.12, a PE ratio of 12.54 and a beta of 1.58.

Capital Product Partners (NASDAQ:CPLP) last released its earnings results on Friday, October 27th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. Capital Product Partners had a return on equity of 4.70% and a net margin of 17.17%. The firm had revenue of $62.68 million for the quarter, compared to analysts’ expectations of $59.71 million. equities research analysts forecast that Capital Product Partners L.P. will post 0.24 EPS for the current year.

A number of research analysts have issued reports on the company. BidaskClub upgraded Capital Product Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 12th. ValuEngine upgraded Capital Product Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. Zacks Investment Research cut Capital Product Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Finally, Jefferies Group assumed coverage on Capital Product Partners in a research report on Monday, December 18th. They issued a “buy” rating and a $5.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $4.75.

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About Capital Product Partners

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 (NASDAQ:CPLP)

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