Steel Partners (NYSE:SPLP) Shares Gap Up - Still a Buy?

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $41.01, but opened at $41.84. Steel Partners shares last traded at $40.77, with a volume of 3,532 shares traded.Get Steel Partners alerts:Wall Street Analysts Forecast GrowthSeparately, StockNews.com assumed coverage on shares of Steel Partners in a report on Tuesday. They issued a "strong-buy" rating for the company.Check Out Our Latest Stock Report on Steel PartnersSteel Partners Stock PerformanceThe company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm has a market cap of $762.90 million, a P/E ratio of 4.10 and a beta of 1.01. The business has a fifty day simple moving average of $41.17 and a 200-day simple moving average of $41.24. Steel Partners (NYSE:SPLP - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%. The business had revenue of $497.92 million for the quarter. Hedge Funds Weigh In On Steel PartnersA number of hedge funds have recently added to or reduced their stakes in SPLP. Gamco Investors INC. ET AL raised its stake in shares of Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock worth $4,123,000 after purchasing an additional 3,300 shares during the last quarter. HighTower Advisors LLC lifted its stake in Steel Partners by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock valued at $1,149,000 after acquiring an additional 577 shares during the period. Finally, Teton Advisors Inc. boosted its holdings in shares of Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock valued at $553,000 after acquiring an additional 500 shares during the last quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors. Steel Partners Company Profile (Get Free Report)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.Read MoreFive stocks we like better than Steel PartnersUsing the MarketBeat Dividend Yield CalculatorArcher Aviation’s Africa Deal Could Boost ACHR StockRetail Stocks Investing, ExplainedAre Short Sellers Wrong About These 3 Semiconductor Stocks?Investing in Commodities: What Are They? How to Invest in ThemBoeing Gets $50B in March Orders—Is BA Stock a Buy Now?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Steel Partners Right Now?Before you consider Steel Partners, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Steel Partners wasn't on the list.While Steel Partners currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here