Donald Smith & Co., Inc. has recently announced that it has increased stake in Capital Product Partners L.P. (NASDAQ:CPLP) by 16.86%. After grabbing 1.53 million shares, the institutional investor is now in possession of 0.22 million shares of the Industrials Company. The new investment brought the stake of investor firm to 7.68% having worth around $20.88 million.
Capital Product Partners L.P. (CPLP) concluded trading on 01/26/23 at a closing price of $14.51, with 72688.0 shares of worth about $1.05 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -2.29% during that period and on Thursday the price saw a gain of about 1.19%. Currently the company’s common shares owned by public are about 19.16M shares, out of which, 14.40M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the CPLP stock and their offered price forecasts bring an average price target of $18.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $20.00 and could fall to a lowest price of $17.00. The stock’s current price level is 22.28% above of average price target set by the analysts, while a rise to estimated low would result in gain of 14.65% for the stock. However, touching the estimated high of $20.00 would mean a gain of 27.45% for the stock.
Global X MSCI Greece ETF, Aristotle Small Cap Equity Collec, and iProfile US Equity Private Pool are the top 3 mutual funds which are holding stakes in Capital Product Partners L.P. Global X MSCI Greece ETF is currently holding 0.12 million shares of worth totaling $1.69 million. The company recently came buying 0.0 shares which brought its stake up to 0.62% of the company’s outstanding shares. iProfile US Equity Private Pool, after buying 48988.0 shares, have now control over 0.25% of the stake in the company. It holds 558.0 shares of worth $0.67 million.
Capital Product Partners L.P. (NASDAQ: CPLP) started trading at $14.31, below -$0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 14.59, or with a gain of 1.19%. Stock saw a price change of 2.91% in past 5 days and over the past one month there was a price change of 4.54%. Year-to-date (YTD), CPLP shares are showing a performance of 6.30% which decreased to -5.41% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $12.80 but also hit the highest price of $19.65 during that period. The average intraday trading volume for Capital Product Partners L.P. shares is 53.05K. The stock is currently trading 4.86% above its 20-day simple moving average (SMA20), while that difference is up 2.21% for SMA50 and it goes to -1.87% lower than SMA200.
Donald Smith & Co., Inc. acquired 1.53 million shares of Capital Product Partners L.P. having value of about $20.88 million. Data submitted at the U.S SEC by Donald Smith & Co., Inc. revealed that the firm now holds 0.22 million shares in the company valued at close to $3201878.17, or have control over 16.86% stake in the company. Capital Product Partners L.P. (NASDAQ: CPLP) currently have 19.16M outstanding shares and institutions hold larger chunk of about 17.00% of that. Holding of mutual funds in the company is about 15.20% while other institutional holders and individual stake holders have control over 2.07% and — of the stake respectively.
The stock has a current market capitalization of $293.39M and its 3Y-monthly beta is at 0.95. PE ratio of stock for trailing 12 months is 2.01, while it has posted earnings per share of $7.22 in the same period. Its PEG reads 0.13 and has Quick Ratio of 1.30 while making debt-to-equity ratio of 1.92. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CPLP, volatility over the week remained 3.41% while standing at 2.91% over the month.
Analysts are in expectations that Capital Product Partners L.P. (CPLP) stock would likely to be making an EPS of $1.08 in the current quarter, while forecast for next quarter EPS is $1.13 and it is $4.88 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.99 which is $1.2 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.62 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 221.30% while it is estimated to decrease by -31.85% in next year. EPS is likely to shrink at an annualized rate of 15.66% for next 5-years, compared to annual growth of 16.80% made by the stock over the past 5-years.
Analysts at 3 brokerage firms have issued recommendations for the Capital Product Partners L.P. (CPLP)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.30. Out of those 3 Wall Street analysts, 3 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on July 21, 2022 offering a Buy rating for the stock and assigned a target price of $20 to it. Coverage by Jefferies stated Capital Product Partners L.P. (CPLP) stock as a Buy in their note to investors on April 22, 2021, suggesting a price target of $16 for the stock. On July 31, 2020, Jefferies Downgrade their recommendations, while on April 04, 2019, B. Riley FBR Reiterated their ratings for the stock with a price target of $14. Stock get a Market perform rating from Wells Fargo on January 10, 2019.
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