Zacks Investment Research upgraded shares of StoneMor Partners (NYSE:STON) from a hold rating to a buy rating in a research report report published on Wednesday morning. They currently have $7.25 target price on the stock.
According to Zacks, “StoneMor Partners L.P., headquartered in Levittown, Pennsylvania, is an owner and operator of cemeteries and funeral homes in the United States, with 224 cemeteries and 57 funeral homes in 27 states and Puerto Rico. StoneMor is the only publicly traded deathcare company structured as a partnership. StoneMor’s cemetery products and services, which are sold on both a pre-need (before death) and at-need (at death) basis, include: burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise. “
Separately, B. Riley dropped their price objective on StoneMor Partners from $11.00 to $7.00 and set a neutral rating on the stock in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $7.13.
StoneMor Partners (NYSE:STON) last released its earnings results on Friday, January 26th. The company reported ($0.25) EPS for the quarter. The firm had revenue of $84.03 million during the quarter. StoneMor Partners had a negative net margin of 10.42% and a negative return on equity of 22.16%. During the same quarter last year, the firm earned ($0.28) EPS. analysts anticipate that StoneMor Partners will post -0.89 earnings per share for the current year.
In other StoneMor Partners news, major shareholder Fund Gp I. L.P. Oaktree bought 12,373 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were acquired at an average cost of $6.00 per share, with a total value of $74,238.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Value Equity Holdings Oaktree bought 60,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $5.12 per share, for a total transaction of $307,200.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 400,706 shares of company stock worth $2,203,351. Company insiders own 9.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Oaktree Capital Management LP grew its holdings in StoneMor Partners by 145.9% in the 4th quarter. Oaktree Capital Management LP now owns 3,750,000 shares of the company’s stock valued at $24,600,000 after buying an additional 2,225,000 shares in the last quarter. Arrow Investment Advisors LLC grew its holdings in StoneMor Partners by 42.9% in the 4th quarter. Arrow Investment Advisors LLC now owns 114,194 shares of the company’s stock valued at $749,000 after buying an additional 34,300 shares in the last quarter. Virtu Financial LLC acquired a new position in StoneMor Partners in the 4th quarter valued at $131,000. Benchmark Capital Advisors acquired a new position in StoneMor Partners in the 4th quarter valued at $115,000. Finally, Chessman Wealth Strategies RIA acquired a new position in StoneMor Partners in the 4th quarter valued at $118,000. 41.59% of the stock is currently owned by institutional investors and hedge funds.
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StoneMor Partners Company Profile
StoneMor Partners L.P., together with its subsidiaries, owns and operates cemeteries and funeral homes in the United States. It operates through two segments, Cemetery Operations and Funeral Home Operations. The company's cemetery products and services include interment rights, such as burial lots, lawn crypts, mausoleum crypts, cremation niches, and perpetual care rights; merchandise comprising burial vaults, caskets, grave markers and grave marker bases, and memorials; and installation services for burial vaults, caskets, and other cemetery merchandise, as well as other service items.
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