Martin Midstream Partners L.P. (NASDAQ:MMLP) Short Interest Update

Martin Midstream Partners L.P. (NASDAQ:MMLPGet Rating) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 141,700 shares, a decrease of 19.1% from the April 15th total of 175,100 shares. Based on an average trading volume of 176,700 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.5% of the shares of the stock are sold short.

In related news, Director Ruben S. Martin purchased 79,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was purchased at an average price of $2.99 per share, with a total value of $236,210.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ruben S. Martin purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was bought at an average cost of $4.25 per share, with a total value of $42,500.00. Following the acquisition, the director now owns 2,871,578 shares of the company’s stock, valued at approximately $12,204,206.50. The disclosure for this purchase can be found here. Insiders have acquired 318,925 shares of company stock valued at $1,093,301 in the last three months. Insiders own 17.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of Martin Midstream Partners during the third quarter worth $32,000. Wells Fargo & Company MN boosted its position in shares of Martin Midstream Partners by 173.4% during the second quarter. Wells Fargo & Company MN now owns 10,639 shares of the pipeline company’s stock worth $32,000 after buying an additional 6,748 shares during the period. LPL Financial LLC purchased a new position in shares of Martin Midstream Partners during the third quarter worth $40,000. Virtu Financial LLC purchased a new position in shares of Martin Midstream Partners during the fourth quarter worth $61,000. Finally, Bank of America Corp DE boosted its position in shares of Martin Midstream Partners by 57.2% during the second quarter. Bank of America Corp DE now owns 28,287 shares of the pipeline company’s stock worth $86,000 after buying an additional 10,293 shares during the period. Institutional investors and hedge funds own 55.93% of the company’s stock.

Several equities research analysts recently commented on MMLP shares. StockNews.com assumed coverage on Martin Midstream Partners in a report on Saturday, March 26th. They issued a “strong-buy” rating for the company. TheStreet upgraded Martin Midstream Partners from a “d+” rating to a “c” rating in a research report on Friday, April 22nd.

Martin Midstream Partners stock traded up $0.17 during mid-day trading on Tuesday, hitting $4.36. The company’s stock had a trading volume of 92,616 shares, compared to its average volume of 150,365. The firm has a market capitalization of $169.33 million, a PE ratio of 20.14 and a beta of 2.28. Martin Midstream Partners has a 1 year low of $2.50 and a 1 year high of $5.98. The stock’s fifty day moving average is $4.54 and its two-hundred day moving average is $3.54.

Martin Midstream Partners (NASDAQ:MMLPGet Rating) last issued its quarterly earnings data on Wednesday, April 20th. The pipeline company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Martin Midstream Partners had a negative return on equity of 16.91% and a net margin of 0.89%. The company had revenue of $279.20 million during the quarter. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, analysts predict that Martin Midstream Partners will post 0.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, May 6th were given a dividend of $0.005 per share. The ex-dividend date was Thursday, May 5th. This represents a $0.02 annualized dividend and a dividend yield of 0.46%. Martin Midstream Partners’s dividend payout ratio is currently 9.09%.

Martin Midstream Partners Company Profile (Get Rating)

Martin Midstream Partners L.P., together with its subsidiaries, engages in terminalling, processing, storage, and packaging of petroleum products and by-products primarily in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 15 marine shore-based terminal facilities and 13 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.

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